USDA LOAN

What is a USDA Loan?

USDA Loans are backed by the U.S. Department of Agriculture, and offer an affordable option for those living or looking to live in rural and certain suburban areas. As long as the property is located in a USDA-eligible area, and the borrowers do not earn more than 115% of the median income for that region, they may be able to qualify for a USDA Loan. These loans offer the ability to pay no down payment, as well as very competitive interest rates, which makes them an intriguing option for low-to-moderate income earners and first-time homebuyers.

BENEFITS OF A USDA LOAN

  • No required down payment
  • Competitive interest rates
  • Can finance 100% of home’s appraised value
  • Easier credit qualifications
  • May be able to roll closing costs into the loan

How it Works

The U.S. Department of Agriculture backs these USDA Loans which helps to promote development in more rural communities. The property must be in a USDA-eligible area to qualify. Since these loans are backed by the USDA lenders are able to have more security and allow these loans to be more accessible to borrowers. This means that USDA loans often have very competitive interest rates, easier credit requirements, as well as no required down payment. You can finance up to 100% of the home's value! If you are looking at purchasing a home in a rural or certain suburban areas, a USDA loan can be an easy and affordable option to get you into the home you have always wanted.

USDA Loan Image

Reasons to consider a USDA Loan

  • Easier credit qualifications
  • No required down payment
  • If you currently live in or are looking to live in a USDA-eligible area
  • Competitive interest rates
  • Can finance up to 100% of the home's value

Not every loan option is right for every borrower. To get your questions answered and receive more information on what type of loan is best for you, contact us at 1-303-410-2937 or click the button below and allow us to help find a customized loan to fit your specific needs.