How Process Works
About USDA Loans
USDA loans are for persons with a low-to-moderate income who want to buy a home in the suburbs or in rural areas.
The United States Department of Agriculture determines which locations are eligible for this program. The USDA loan is beneficial to all types of borrowers with an option of 100% financing.
The size and location of the household determine eligibility for this program in terms of income. The amount of money needed depends on where you live and how big your family is.
More about USDA Loans
USDA Loan Benefits
No down payment
A USDA loan is available with no down payment for qualified borrowers.
Lower Interest Rate
USDA loan have lower interest rates that are not affected by the amount of money you put down or your credit score.
Low PMI
A benefit of the USDA loan is that it has the lowest private mortgage insurance rate of any lending program.
FAQ's
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Can anyone qualify for USDA loan?
No, in order to be eligible for USDA loans, you must meet certain property and income requirements.
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Are USDA loans just available to first-time home buyers?
No, a USDA loan is available to both recurrent and first-time homebuyers.
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What types of loan terms are available with a USDA loan?
USDA loans come with fixed-rate durations of 15 and 30 years.
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