Are you buying a house and don’t know if the property is eligible for a USDA loan?
When buying a property most people think about FHA loans, VA loans or Conventional loans. Most buyers are not aware of the USDA loans and are not advised by their loan officer or real estate agent if the property they want to purchase is located in an eligible USDA location. A USDA home loan is a 100% financing mortgage for low and moderate income households. Before you get pre-qualify for a loan make sure you ask your agent or loan officer for all loan options they have available or if you already have a property in mind, check if the address qualify for a USDA loan. The USDA loan offers many benefits including:
- No Down Payment
- Low Interest Rates
- No penalties for paying off the loan early
- No restrictions on how long you must live in the house and much more benefits.
Depending on your income you can qualify for a Single Family Housing Direct Home Loan or Single Family Housing Guaranteed Loan Program. USDA also offer Single Family Housing Repair Loans and Grants.
To learn more about USDA loans please go to USDA Program, or click on the links below.
- To know if the property you are purchasing is in an eligible location, please go to USDA Eligibility Map.
- For income eligibility, please go to Single Family Housing Income Eligibility.
- To learn more about USDA Income Limits please go to Income Limits.
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