USDA Purchase Loans
Buy a Suburban Home with Zero Down
And No Mortgage Insurance
 USDA
Home Loans = Greater Affordability
If you live in a qualifying suburban town (generally with
population less than 20,000), a USDA home loan may be your
perfect loan option.
The government created the USDA loan program to encourage
growth in our nation's small communities, and today it remains
the last real no money down loan in existence.
USDA loans are even more affordable because they require no
monthly mortgage insurance, making payments even more
affordable.
In order to qualify for a USDA rural home loan, you must
meet certain requirements:
First, the home MUST be in a designated USDA rural area,
and the borrower must not exceed the income limit set for that
area.
See
Income Limits and Location Eligibility Tester
(you will be forwarded to a government site)
There is no minimum credit score to qualify
for a USDA rural development loan, but you must be able to
show a willingness and ability to repay mortgage
obligations. A credit check indicating no more than one late
payment in the past twelve months is generally accepted as
indicating a willingness to repay. You must also be able to
verify income for the last two years.
(If you are worried you may not meet this
condition, call 1-866-854-4242 to speak to one of our loan
officers as we may still be able to help you.)
Meet the requirements, or want us to verify
your eligibility?
Call us or fill out our simple, 3-minute
USDA home loan
application. It's fast, easy, and free.
USDA Rural Development Loan Program Benefits:
There is no down payment required for a USDA home loan
and 100% of the home’s appraisal value, plus the one time
funding fee, can be financed through the USDA rural housing
home loan. That means, you don't have to pay anything out
of pocket when financing with a USDA home loan.
USDA loans offer a competitive fixed rate. In fact, the
USDA home loan program does not offer adjustable rate
mortgages of any kind. So your monthly mortgage payments
will never increase with a USDA home loan.
The only fee associated the USDA rural housing program is
a small one-time funding fee; and you pay NO monthly mortgage
insurance with a USDA home loan. USDA housing loan allows
you to put more money towards paying off your mortgage each
month, rather than towards fees.
The USDA housing loan program also has no maximum seller
concessions. Which means you can have the seller pay ALL
of the closing costs, saving you even more money.
First Time Home Buyer Benefit:
If you have not owned a home in the 3 years prior to
purchasing your new home, you qualify for a tax credit of
ten percent of the home purchase (up to $8,000). Unlike tax
deductions, this benefit is a tax credit -- a
dollar-for-dollar return on your taxes! The government is
now allowing this tax credit to be used to cover any closing
costs, as well.
Take the First Step toward 100% Financing with a USDA
Purchase Loan.
Answer a few simple questions, and a USDA loan expert
will show you how much you can save!
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What Clients Say
"Nothing
but great things to say!"
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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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