Zillow Advice: FHA and VA Loans - I currently have a USDA loan and live in New Jersey. I want to refi through the USDA Pilot program? http://www.zillow.com/advice-thread/I-currently-have-a-USDA-loan-and-live-in-New-Jersey-I-want-to-refi-through-the-USDA-Pilot-program/470018/ Zillow Advice | Zillow Real Estate New Jersey is a state that ... http://www.zillow.com/advice-thread/I-currently-have-a-USDA-loan-and-live-in-New-Jersey-I-want-to-refi-through-the-USDA-Pilot-program/470018/ New Jersey is a state that allows the USDA Pilot Refinance program.  Feel free to contact me for details of this program and we are a nationwide lender.  A few guidelines to know on the USDA Pilot Refinance Program are a minimum of 620 credit score (varies from lender to lender), no appraisal, can finance reasonable closing costs, pre-paid items such as escrow set up, and the balance plus the daily interest through the payoff date. make under the USDA income limit for the county in which the property is located and for the number of people in the household, and have made all mortgage payments for the last 12 months on time.  Loans that had a USDA loan commitment before October 1, 2011 did not require pmi or an annual fee but new loans do have a .40% annual fee which is like pmi.  A loan officer knowledgeable about this program can compare the differences so you will know if the refinance makes sense.  This is a great program that allows for USDA borrowers to take advantage of the lower interest rates without having the equity in the property.  Tue, 18 Dec 2012 13:02:00 GMT http://www.zillow.com/advice-thread/I-currently-have-a-USDA-loan-and-live-in-New-Jersey-I-want-to-refi-through-the-USDA-Pilot-program/470018/ 2012-12-18T13:02:00Z