Eligibility Requirements for USDA Streamline Refinance are unique and quite complicated. To be eligible, you must meet certain criteria (e.g., income limits). First, you must have an existing USDA loan that's backed by the USDA Rural Development Guaranteed Housing Loan Program. Your mortgage must also be current and not delinquent; meaning it has been paid on time for at least the past 12 months. Furthermore, you must demonstrate a “net tangible benefit” from refinancing - either lower monthly payments, reduced interest rate or shorter loan term! Additionally, your property must meet all requirements of a typical USDA home loan: located in a rural area or small town with population under 20K; single family residence or manufactured home approved by the U.S Department of Housing and Urban Development; no health or safety hazards present. Moreover, applicants should have a decent credit score (above 640 is recommended) to qualify for this program.

On top of that, some restrictions apply to those who received their original USDA loans after October 1st 2016 – such borrowers can only refinance once during the life of the loan! Also keep in mind that if any part of your loan was used to finance non-real estate related expenses (such as debt consolidation), then you won't be eligible for streamline refinancing. Lastly, all applicants need to provide proof of income along with other supporting documents required by lender before they can proceed with their application process.

In conclusion, these eligibility requirements are strict but necessary to ensure that only qualified borrowers benefit from this program - so make sure to read through them carefully and thoughtfully before starting your journey towards getting your dream home!