USDA Loan
Sometimes the city isn’t for everyone. If you’ve always wanted to live comfortably outside of the city limits this loan was made for you.
What is a USDA Loan?
A USDA loan is a home loan guaranteed by the United States Department of Agriculture (USDA). This loan provides affordable financing options for properties located in designated small towns, suburbs, and exurbs. This program even offers a 0-down payment for eligible low- to moderate-income families to make their dream of homeownership a reality.
Benefits of a USDA Loan
Since USDA loans are guaranteed loans there is a lot of flexibility that comes with purchasing a home with this type of loan. Outside of a 0-down payment option, you’ll benefit from a low closing cost and interest rates.
If you have a family member or a friend who is gifting you money for your new home you can use the funds towards your closing cost with this type of loan too.
- 100% financing + required guarantee financing = 102% of the appraised value
- Low FICO score requirements
- Low-interest rates
- Low closing costs
- Gift funds can be used for closing costs
- 30-year, fixed-rate-mortgage
How do you know if you’re eligible for a USDA Loan?
Eligibility is based on the property size, location, and condition along with your income and other qualifying factors. Some of the factors include:
- 100% financing + required guarantee financing = 102% of the appraised value
- Low FICO score requirements
- Low-interest rates
- Low closing costs
- Gift funds can be used for closing costs
- 30-year, fixed-rate-mortgage
- 100% financing + required guarantee financing = 102% of the appraised value
- Low FICO score requirements
- Low-interest rates
- Low closing costs
- Gift funds can be used for closing costs
- 30-year, fixed-rate-mortgage
Ready to learn more?
The home buying process can be stressful for some, but I can help you navigate your loan options and together we can achieve your goal of being a home owner.