We Offer Awesome Services

We Offer Awesome Services

Eligibility Requirements

 

To get approved for a USDA loan, you must purchase a home in a designated rural area that will be your primary residence. Also, your monthly debt and mortgage cannot exceed 41% of your gross monthly income. In addition, you’ll need to meet income guidelines, which will depend on your county, state, and family size. Lastly, your credit score should be at least 640.

Eligible Areas

 

The goal of the USDA loan is to reduce costs for home buyers in rural areas. Therefore, your property must be located in an eligible area. If you’d like to buy a home in a small town in the country, there’s a good chance it’ll qualify. Even if you believe your area is too developed, a USDA loan may still be an option.

Eligibility Requirements

 

To get approved for a USDA loan, you must purchase a home in a designated rural area that will be your primary residence. Also, your monthly debt and mortgage cannot exceed 41% of your gross monthly income. In addition, you’ll need to meet income guidelines, which will depend on your county, state, and family size. Lastly, your credit score should be at least 640.

Eligible Areas

 

The goal of the USDA loan is to reduce costs for home buyers in rural areas. Therefore, your property must be located in an eligible area. If you’d like to buy a home in a small town in the country, there’s a good chance it’ll qualify. Even if you believe your area is too developed, a USDA loan may still be an option.

Down Payment Requirements

 

One of the most noteworthy benefits of the USDA loan is the fact that it requires 0% down. Believe it or not, you may finance 100% of the purchase price of your home. If you don’t have a lot of cash on hand and like the idea of living in the country, a USDA loan can help you become a homeowner.

Interest Rates

 

Since USDA loans are backed by the government, lenders who offer them may provide competitive interest rates. As long as you’re an eligible borrower, you may get approved for a low interest rate that saves you thousands of dollars over the life of your loan. These lower rates can make home ownership very affordable.