What is a USDA home loan?

The U.S. Department of Agriculture (USDA) home loan program offers mortgage loans to low-income residents of rural areas who cannot otherwise obtain the traditional conventional mortgage.

If you live in a rural area and can’t qualify for a conventional loan, you may qualify for the USDA guaranteed loan. 

The USDA loan allows for 100% financing, otherwise known as 0% down payment! Because of this, there are a few requirements that the loan program requires. Usually, the clients need to have a minimum credit score of 640 with our specific wholesale lenders. They also require you to meet the income limits (This varies upon household size). You usually need to have a debt to income ratio below 41% to qualify. 

This is one of our most common first time home buyer loan programs that we offer!