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USDALoans
MORTGAGE.INFO
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
What is a USDA Loan?
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
The United States Departments of Agriculturehas set us a variety of loans that are made tohelp low- or moderate-income people buy,repair, or renovate rural homes. There aresome great opportunities for low income
families in rural areas to take advantage ofwith a USDA loan.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
There are three USDA mortgage loan programsto help you find a program that most fits yoursituation. Loan guarantees, Direct loans, and
Home improvement loans and grants.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
Loan guarantees are loans that the USDA guarantees.This is a mortgage that is issued and approved by alocal lender, much like FHA and VA backed loans.
This allows for very low interest rates, and sometimesno down payment is required. However keep in mindthat if there is little to no money down on your home
there will be an MIP requirement.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
Direct Loans are also issued by the USDA whichallow for very low income applicants. These
thresholds can vary by region. However this can be agreat opportunity for low-income families to get the
help they need for necessary expenses.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
Home improvement loans and grants areloans or outright financial awards that permit
homeowners to repair or upgrade theirhomes. Packages can also combine a loan anda grant, providing up to $27,500 in assistance.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
The USDA’s eligibility requirements:
Must be a US citizen
Must make monthly payments
Must have a dependable income
Requires an acceptable credit history
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
USDA loans are also only eligible in rural areas. Ingeneral Metropolitan areas are excluded from USDAprograms. If you think your home may apply talk to a
lender today and get the assistance you need.
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
MORTGAGE.INFOLENDER HOTLINE: 888-581-5008
CLICK HERETO LEARN MORE
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
Justin McHood is Americas MortgageCommentator and has been providing
Mortgage commentary for over 10 years.
Information provided by:Justin McHood
MORTGAGE.INFO
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
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LENDER HOTLINE: 888-581-5008
MORTGAGE.INFO LENDER HOTLINE: 888-581-5008