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    While the USDA Rural Development Department offers a direct mortgage loan, they also offer a guaranteed loan,
    backed by the U.S. government, similar to FHA or VA loans. USDA loans are made by private lenders that follow
    guidelines set forth by United States Department of Agriculture Rural Development under  their Guaranteed Rural
    Housing Program are only available for certain communities that are deemed eligible by USDA.

    Why a USDA Home Loan Should be Your First Choice. There are many advantages to choosing a USDA backed
    mortgage. No Down Payment Required. One hundred percent financing makes these loans among the most desirable
    of loan programs still in existence. The only other programs out there that offer this today are VA loans.

    Competitive 30 Year Fixed Interest Rates. With the guarantee of the U.S. government, a lender can offer competitive
    interest rates to qualified individuals and families often better than conventional mortgage rates. Flexible Credit
    Guidelines. Borrowers must still provide a credit history report. But the flexible guidelines allow potential
    homeowners with spotty or bad credit to still qualify for a home loan.

    The USDA loan has relatively low mortgage insurance requirements, particularly when compared with the FHA
    loans. USDA charges upfront 2% of the loan amount as guarantee fee that may be financed into loan amount and a
    .40% annual fee paid monthly based on the remaining balance. This monthly USDA fee is often times much lower
    than FHA monthly mortgage insurance or conventional monthly mortgage insurance. As a result USDA loans often
    times result in lower monthly payment than other loan programs with similar loan amounts.

    1. Home must be located in an eligible area  
    2. Borrowers’ adjusted household income cannot exceed the maximum allowable income limit set forth by USDA.   
    3. Borrowers must meet all other guidelines set forth by lender

                                        Contact us to find out if you qualify for this exceptional program!