USDA Loans offer $0 down, low rates and millions now qualify

Buy a home with $0 DOWN through the amazing benefits of the USDA Home Loan program.

The USDA Home Loan is a mortgage option that is funded by approved lenders and guaranteed by the USDA. USDA Home Loans offer millions of qualified homebuyers zero money down, 100% financing; the ability for closing costs to paid for by the seller, or financed into the total loan amount; and low, fixed rates.

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Or call 800-699-0776 to speak to a USDA Loan Specialist.

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Attractive option for Homebuyers

USDA Home Loans are comparable to conventional mortgages, but with the key differences of offering $0 money down and affordable yearly mortgage insurance.

With the USDA Guaranteed Loan, a buyer can finance 100 percent of the purchase price of the home, in addition to the funding fee set by the USDA – making this one of the last true 0$ down programs.

Another USDA Loan advantage is that its annual mortgage insurance fee is just 0.40% annually – nearly half of what is charged on a conventional loan and a quarter of what is charged on FHA – and doesn't fluctuate in respect to the down payment.

See all USDA Loan Advantages

Zero Money Down

In today's market, finding a true $0 down mortgage is nearly impossible, with exception of the USDA Loan. Unlike conventional mortgages - which require up to 20% down - this amazing benefit allows you to keep more cash on hand, keeping you prepared for life's emergencies.

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Qualifying for a USDA Loan

Similar to other government backed programs, the USDA Section 502 Guaranteed loan is funded by lenders, while the USDA guarantees a portion of the loan against loss. It is this guarantee that gives lenders the ability to extend financing to a greater range of applicants.

In addition to income and credit qualifications, the USDA Loan requires that homeowners also buy a home in what the USDA determines a rural area. Luckily the term rural has much room for interpretation, leaving millions of homebuyers eligible for this amazing program.

See USDA Eligibility Requirements

Basic USDA Requirements

  • Home Must be in what the USDA considers a "Rural" Area
  • Income May be up to 115% of the Median for the area
  • Must Demonstrate an Ability to Repay

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USDA Mortgage Rates

Your USDA Loan rate is determined on a variety of factors – including credit history, income or assets, employment status, current debt obligations, among others – however, even with all this, USDA Loan rates are often low.

With competitive rates – often lower than conventional mortgage options – and low mortgage insurance, the USDA Loan offers more financial benefit when compared to FHA or conventional loans.

Learn About USDA Loan Rates

Financial Metrics for Determining Rates:

  • Current Income or Assets
  • Current Employment Status
  • Credit History
  • Monthly Debt Obligations
  • Debt to Income Ratio

USDA Loan Refinancing

The USDA Loan also offers a refinancing pilot program that allows homebuyers who currently have a USDA Loan to refinance into a lower rate. The USDA requires that the mortgage being refinanced is a section 502 USDA Loan and is not delinquent, as well as results in the lowering of the homeowner’s interest rate.

Millions are Eligible

Designated "rural" areas are easily found across the entire country, making millions eligible.

Not Just Farm Areas

USDA Loans can be used for housing in suburban communities that are anything but rural.

Faster Processing Times

Processing times have sped up immensely, reaching closing dates in as little as 30 days.

First or Repeat Homebuyers

Both first-time and repeat homebuyers are eligible for this incredible home loan program.

What is the USDA Home Loan?

The USDA Home Loan, also referred to as the USDA Rural Development Single Family Housing Guaranteed Loan Program or Section 502 Loan, assists rural and suburban homebuyers achieve the dream of homeownership through low-cost home financing.

As mentioned above, the USDA Loan features $0 down payment, low interest rates, flexible credit requirements, affordable terms and closing costs and fees can be rolled into the entire loan amount – making it a true zero money down program. And, while the program is formally known as a Section 502 mortgage, or Rural Housing Loan, it is not just for rural homebuyers. Many eligible homebuyers don’t fall under the standard definition of rural and live in populated suburban areas.

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