USDA Loan
The USDA Home Loan, or rural development loan, is a low-interest government-sponsored mortgage available for designated rural and suburban areas.
It is a 0% down payment mortgage designed to help low- to moderate-income households purchase, build, rehabilitate, or improve a home. To qualify for a USDA loan, you must purchase a home in a USDA-approved area and meet certain income requirements.
Loan Program Details
- 100% Financing – No Downpayment Required!
- 6 percent seller concessions permitted for closing costs
- Finance closing costs, if market value is sufficient
- Gifts permitted for closing costs
- Not limited to first time home buyers
- Homes must be located in an eligible area as defined by the USDA
- Borrowers must meet income limits
- Borrower must not own any other properties (call us for exceptions)
- Low annual annualized monthly guarantee fee keeps monthly payments lower than loans with traditional mortgage insurance
We’ve made applying for a USDA Loan easy. To start your loan application and get preapproved click here, to find a local loan officer click here.
