Assist Ready glossary
Key terms
Assist note
These terms come up with Streamlined-Assist, each with a primary source. This is not a government website.
Last reviewed against the primary sources listed below.
- Streamlined-Assist
- A USDA refinance of an existing USDA loan with reduced documentation. Source: USDA HB-1-3555 Guaranteed Loan Technical Handbook
- Payment reduction test
- The requirement that the new payment be lower than the current one. Source: USDA HB-1-3555 Guaranteed Loan Technical Handbook
- Guarantee fee
- USDA's fees on guaranteed loans, upfront and annual. Source: USDA HB-1-3555 Guaranteed Loan Technical Handbook
- Approved lender
- A private lender authorized to make USDA guaranteed loans. Source: USDA Rural Development: State offices