USDA Loan
Our USDA Loan Rates are low and our process is quick and painless.
The United States Department of Agriculture (USDA) offers a variety of loans to help low- or moderate-income individuals purchase, repair, or renovate a home in a rural area. Some of the popular types of loans are the Single Family Direct Homeownership Loan, the Single-Family Guaranteed Homeownership Loan, the Rural Repair and Rehabilitation Loan or Grant, and the Mutual Self-Help Loan. This guide will help you figure out what these loans are and whether you qualify.
Though the terms and details of these loans differ, all offer very low effective interest rates (some are as low as 1 percent) and don’t require a cash down payment. To qualify, you need to have a decent credit history.
Why a USDA Loan?
There are many benefits, including: no down payment required; borrowers who qualify for a USDA Rural Development home loan have the flexibility to pay nothing out of pocket for a down payment. Additionally, the USDA Loan allows borrowers to use a gift or grant to go toward their mortgage.
You'll qualify if...
As a rule of thumb, it may be harder to qualify for fixed-rate loans than for adjustable-rate loans. When interest rates are low, fixed-rate loans are generally not that much more expensive than adjustable-rate mortgages and may be a better deal in the long run, because you can lock in the rate for the life of your loan.
your income and credit meet the standard guidelines.
consistent
you meet the lender’s credit and income requirements.
prepared
you have steady income, manageable debt, and solid credit
Reliable
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