USDA Refinance Home Loans
Lower your rate, shorten the term of your loan, or take cash out from the equity in your property with a USDA Refinance
- 100% financing
- No loan limits
- One-time 2.75% upfront Guarantee Fee, .5% monthly Guarantee Fee - if appraised value exceeds sales pricing, Guarantee Fee may be financed.
- No down payment required
- Rate & Term or Cash-Out Refinance options
- No monthly mortgage insurance
- 620 minimum FICO score
- Household income considered, not just borrower on note - must meet USDA's income guidelines.
- Borrowers may not own other property
- Eligible properties
- Single family, condominiums and town homes (must be agency approved)
- No “income-producing” properties, i.e. farms
- For property & income eligibility go to www.eligibility.sc.egov.usda.gov/eligibility
USDA loans are available for purchase or refinance. We offer a standard USDA Purchase.