USDA Loans

What is A USDA loan?

A USDA loan is an affordable way for low income individuals living in designated rural areas.

Here's what you need to know.

Most lenders require a minimum credit score is 640.

Your adjusted income cannot be more than 115% of the median income in the area. This loan is for families who demonstrate economic need.

This loan is strictly for designated rural areas.

Benefits of USDA Loans

No Down Payment: A VA loan often allows you to purchase a new home without any initial payment.
Competitive Interest Rates: VA loans typically offer favorable interest rates compared to other home loan options.
No Private Mortgage Insurance: With VA loans, monthly mortgage insurance payments are not required.
100% Access To Home Equity: A VA loan permits the conversion of up to 100% of your home equity into cash, if you qualify.
Sellers Can Cover Closing Costs: The loan agreement might allow sellers to pay for your closing costs.
Government Insured: VA loans are backed and secured by the government, providing added security to lenders.
Refinancing Opportunities: Existing VA Loan holders might be eligible for a VA Streamline Refinance. If you have a VA loan and want to lower your interest rate with little to no out-of0pocket closing costs. You do not have to provide bank statements, W2s, job verification, or paystubs.
Benefits for Disabled Veterans: Those receiving disability payments from the VA, or considered at least 10% disabled, might be eligible for certain fee waivers.