A USDA home loan from the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a mortgage loan offered to rural property owners by the United States Department of Agriculture. The USDA Guarantee Loan is a 100% financing mortgage for moderate-to-low-income homebuyers in eligible rural and suburban areas. These mortgages are insured by the government, similar to FHA loans, which protects the lender in the event the borrower defaults on the loan.
Benefits of the USDA Loan Program:
No Downpayment Loan (100% Financing) - Qualified borrowers have the ability to put zero down and get 100% financing. This benefit makes a USDA loan extremely attractive for first-time homebuyers.
Roll Your Closing Costs Into The Loan - USDA loans are the only type of government insured loan that allows borrowers to roll their closing costs into the mortgage. This means that you can finance more than 100% of the sales price.
Seller Paid Closing Costs - The seller can pay up to 6% of the base mortgage amount for closing costs, escrow and prepaid items.
Requirements for a USDA Loan:
Income Requirements - Your household income cannot exceed 115% of the area median income.
Be a US citizen, non-citizen national or qualified alien.
Occupy the property as your primary residence.
Home must be in an eligible location (approx. 97% of the U.S. is eligible).
Have an adequate credit score, possible minimum score of 580.
With hundreds of mortgage programs available, let us show you how we can save you $$$$ on your next mortgage! 
Company NMLS: 2366709
www.nmlsconsumeraccess.org
3001 Polar Lane, #502,
Austin, TX 78613
Phone: 512-299-4965
epaulson@gfmortgages.com
NMLS: 380212
Powered By LenderHomePage.com
