USDA loans are a great option for borrowers looking to purchase a property in rural areas.
Ideal for property purchases where the borrowers are buying in rural zone areas and do not have a lot for a downpayment.
Loan Term Options
USDA Home Loans are a 30-year Mortgage Program
Benefits of USDA Loan
- Up to 100% financing available for those that qualify.
- Once you have a USDA Mortgage you have the ability to streamline refinance to a lower rate with no appraisal needed.
- Very competitive interest rates.
- Your Mortgage Insurance declines annually.
- Must be a primary residence
- The property must be zoned as a USDA area.
- The property cannot be income producing (no multifamily units or working farms).
- There are income and credit score requirements as well