What is a USDA Loan?
A USDA loan is a mortgage that offers considerable benefits to those wishing to purchase a home in an eligible rural area. USDA home loans are issued through private lenders and are guaranteed by the United States Department of Agriculture (USDA).
What are the benefits to a USDA Loan?
The primary benefits of a USDA Loan are:
Am I eligible for a USDA Loan?
USDA loans are available to homebuyers that are looking to purchase a single family primary residence in what is defined by the USDA as a “rural” area or a qualified suburban area. The USDA also has income restrictions based on the property location.
At a minimum, the USDA requires:
US citizenship or permanent residency;
Dependable income, typically over the past two years;
The homebuyer’s adjusted income cannot exceed 115% of the area median income, depending on family size;
The property has to be located in a qualified rural location;
Please call us for eligibility requirements!