USDA Home Loans
The "No Money Down, No Mortgage Insurance"
Home Loan for Suburban Communities.
 USDA
Loans - They're NOT for Farmers!
A USDA home loan has nothing to do with
agriculture.
It's simply a government insured loan program
directed to families in qualifying rural areas of the U.S. --
which generally include:
It might surprise you just how many areas of
the United States do qualify for these no money down, no
mortgage insurance home loans.
The goal of the USDA loan program is to help
our nation's smaller, rural communities thrive by making land
and property more affordable.
Why Buy a Home with a USDA Rural Development Loan?
In a word: Affordability.
For starters, a USDA Loan is the only loan program
offered to the general that allows you to finance 100% of
your home's value. That means no down payment of any kind.
In addition, there is no monthly mortgage insurance
payment with a USDA guarantee loan, which means more money
can go to paying off the mortgage each month. USDA loans are
made even more affordable through very competitive fixed
interest rates, ensuring your payments will not increase
every month.
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NO down payment - Finance 100% of your home
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NO monthly mortgage insurance
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NO maximum loan amount
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NO assets needed to qualify
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Flexible credit guidelines
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Competitive, fixed interest rates so payments
do not increase
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USDA Loans are for new and existing properties
USDA Loan Eligibility - Do I Qualify?
There are only a few requirements you have to meet in
order to be eligible for a USDA home loan. The first is that
the home must be located in a designated USDA rural area.
You can check the USDA eligibility of your county using the
link below.
See:
Location Eligibility Tester (you'll be forwarded to a
government site)
If the home is in an eligible area, you must not exceed
the current yearly USDA income limit set for your county.
Finally, assuming you meet both the location and income
requirements, the final requirement is an evaluation of your
credit history. The USDA Rural Development loan program does
not have a strict credit score guideline. Rather, it
evaluates your credit history in an effort to ascertain your
willingness to meet repayment obligations.
How do I get Started with a USDA Loan?
CREFCO is an experienced USDA lender and can
help you
qualify for Rural Development loan.
Simply
fill out our easy application to find out the
monthly savings available to you with a USDA home loan. It's
fast, easy, free... and there's no obligation.
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What Clients Say
"Trouble FREE!"
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Did You Know?
USDA
Loans are government insured and serviced by
direct lenders that meet federal approval
guidelines. They are the only non-veteran no
down payment loan in
existence and allow you to borrow a full
100% of the appraised value of a home. |
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