Want to USDA Streamlined-Assist refinance. How do I find lender without hard hits to my credit score?

Question

I purchased my home under a USDA loan in 2010 at 5.25%.  I would like to do the USDA Streamlined-Assist refinance.  I have checked with a couple different lenders (including my current mortgage holder - Chase) and they don't do the USDA Streamline.  Based on this, I am assuming that not all lenders offer this?  So how do I find a lender to do this?

Answer 1

A lender does not have to check your credit to tell you whether they offer the program. Simply don't give them any information until they say whether or not they do USDA streamlines. You might just keep calling lenders and doing Google searches for a lender that will do them. Each lender chooses whether or not to offer any given program. Some lenders don't offer programs just because they have determined they won't get enough business to have another program to keep track of. On the other side of the coin, some lenders specialize in certain loans and grab all the market share. As a consumer, you just have to find one of those few lenders that offer these niche programs. With your current rate, you could save a lot of money without needing an appraisal for the refinance. Related article: https://themortgagereports.com/26089/usda-streamline-refinance-program