Benefits of a USDA Home Loan
- 100% financing
- Guarantee Fee rolled into the loan amount, with up to 102% financing.
- Closing Costs and Lender Fees can be rolled into the loan.
- No max on purchase price. A person’s income and debt-to-income ratio will determine the logical home price.
- The following types of homes are permitted: new, existing, modular homes, Planned Unit Developments (PUD’s), condominiums and even brand new manufactured homes.
- Loan Amounts can include home improvements and repair costs.
- The USDA loan program helps lower to moderate income families purchase a home.
Eligibility for USDA Loans
- Must be a primary residence– rental properties and vacation homes are not eligible.
- Must present a decent credit history, demonstrating the ability to pay mortgage, including taxes and insurance, on time each month.
- More homes now qualify, but you would need to check with our office to see if your home is eligible.
Our experts can let you know if you qualify today!