USDA 100% Fiancing Home Loan
USDA Loan Benefits
- USDA program is zero down payment loan
- Minimum credit score is 600
- Down Payment Assistance Programs available
- Competitively low interest rates
- FHA has more flexible credit qualification guidelines
- Down payment can be 100% gift funds
- Seller can pay closing costs
- Low monthly usda fee instead of traditional mortgage insurance
Let's discuss some important qualifications for USDA loans
- You must purchase a home in a targeted rural area. You can check the USDA eligibility map to see if a home is eligible. You simply put in the exact address of the home with zip code that you are interested in and you will get a response that the home is "eligible" or "not eligible". The USDA eligibility map will show you what zones are eligible in your targeted area for your home search.
- There are maximum household income restrictions which varies by county.
- You only need 2 credit tradelines with 12 month history.
- Mortgage payment usually can't exceed 29% of your gross monthly income. Complete online pre-approval application and we will let you know the maximum payment you can qualify for.
We are an an experienced USDA approved lender and we have helped thousands of home buyers utilize the USDA 100% financing program to purchase their first home. We are passionate about educating you about the loan process and qualfications for this great program. Once you are pre-approved for the program we can refer you to one of our Preferred Realtor Partners who can text/email you USDA homes for sale in your area and assist you in your home search.