USDA
Unlocking affordable homeownership in rural America.
Looking to purchase a home in a rural area? USDA loans can help make that dream a reality. With no down payment required and flexible credit requirements, we’re committed to helping low- to moderate-income families achieve homeownership. Let us help you find your slice of rural paradise.
A USDA loan is a type of mortgage loan that is guaranteed by the U.S. Department of Agriculture (USDA). USDA loans are designed to help low- to moderate-income individuals and families in rural areas purchase homes.
One of the main benefits of a USDA loan is that it allows borrowers to finance 100% of the home’s purchase price, with no down payment required. Additionally, USDA loans often offer lower interest rates and more flexible credit requirements than traditional mortgage loans.
To qualify for a USDA loan, borrowers must meet certain income and location requirements. The home being purchased must be located in a designated rural area as defined by the USDA. The income limits vary depending on the location and size of the household.
USDA loans can be a great option for those who want to purchase a home in a rural area but may not have the funds for a down payment or qualify for a traditional mortgage loan.
Some of the benefits of a USDA loan include:
No down payment:
USDA loans offer 100% financing, meaning borrowers can purchase a home without having to make a down payment.
Lower interest rates:
USDA loans typically offer lower interest rates than traditional mortgage loans, which can save borrowers thousands of dollars over the life of the loan.
Flexible credit requirements:
While lenders may have their own credit requirements, USDA loans generally have more flexible credit requirements than other types of loans.
No mortgage insurance:
Unlike some other types of loans, USDA loans do not require borrowers to pay for private mortgage insurance (PMI), which can save borrowers hundreds of dollars each month.
Affordable home ownership:
USDA loans are designed to help low- to moderate-income families purchase homes in rural areas, making homeownership more accessible and affordable.
Closing cost limitations:
USDA loans limit the amount that a borrower can be charged for closing costs, which can save borrowers thousands of dollars at closing.
Overall, USDA loans provide a unique opportunity for low- to moderate-income families to achieve the American dream of homeownership, with no down payment required and lower interest rates than traditional mortgage loans.