USDA Rural Housing Loans

USDA Rural Housing home loans insured by HUD are designed to assist low-to-moderate income rural residents in purchasing a new home by providing affordable s and s. The home purchase must occur within the USDA's Property Eligibility Map and the household income must not exceed the established limits for the area where the home is located.

Benefits of the USDA Rural Housing loan program include up to 100% financing (no required), nontraditional may be accepted (includes detailed payment history on rental payments, utility bills, telephone/mobile services and television service), and below market monthly rates. Like the home loan, the USDA Rural Housing home loan allows the seller to pay all s, , and homeowner’s insurance. Take advantage of the USDA Rural Housing loan and purchase with no money down.

Loan Programs

Program Details

This traditional fixed-rate mortgage offers a stable, fixed payment over the life of the loan.
CREDIT

620

Minimum Credit Score
Eligibility for this program requires a minimum credit score of 620
Higher Downpayment
This designation indicates the program requires a higher initial down-payment from the borrower.
Minimal Loan Documentation
This designation indicates the program requires less complex documentation
The 15 year fixed-rate mortgage enables you to own your home in half the time as the 30 year fixed-rate mortgage.
CREDIT

620

Minimum Credit Score
Eligibility for this program requires a minimum credit score of 620
Higher Downpayment
This designation indicates the program requires a higher initial down-payment from the borrower.
Minimal Loan Documentation
This designation indicates the program requires less complex documentation
The flex term fixed-rate mortgage offers repayment terms ranging from 16 to 29 years.
CREDIT

620

Minimum Credit Score
Eligibility for this program requires a minimum credit score of 620
Higher Downpayment
This designation indicates the program requires a higher initial down-payment from the borrower.
Minimal Loan Documentation
This designation indicates the program requires less complex documentation
The jumbo loan is a loan that is over the conforming loan limit ($417,000) set by the government-sponsored mortgage agencies, Freddie Mac (FHLMC) and Fannie Mae (FNMA).
CREDIT

700

Minimum Credit Score
Eligibility for this program requires a minimum credit score of 700
Higher Downpayment
This designation indicates the program requires a higher initial down-payment from the borrower.
Minimal Loan Documentation
This designation indicates the program requires less complex documentation
Adjustable rate mortgages (ARM) have an initial fixed-rate period of 1, 3, 5, 7 or 10 years after which time they convert to an adjustable rate mortgage. Dependent on the length of time you intend to own your home, the ARM might be a consideration.
Higher Downpayment
This designation indicates the program requires a higher initial down-payment from the borrower.
Minimal Loan Documentation
This designation indicates the program requires less complex documentation
FHA home loans insured by the Federal Housing Administration (FHA) offer expanded lending guidelines for individuals who may not qualify for conventional financing.
CREDIT

550

Minimum Credit Score
Eligibility for this program requires a minimum credit score of 550
Lower Downpayment
This designation indicates the program allows a lower initial down-payment from the borrower.
Extra Loan Documentation
This designation indicates the program requires more complex documentation.