No Money Down: For starters, a USDA loan is one of the only loan programs offered to the general public that allows you to finance 100% of your home’s value. That means no down payment of any kind!
Great Interest Rates: USDA loans are made even more affordable through very competitive fixed interest rates, ensuring your payments will not increase every month.
Need a 620 score: USDA Loans .Net requires a middle credit score of at least 620. If you are close, apply and we can help.
Affordable 30 Year Terms: USDA home loans also offers affordable 30 year terms. If you are a first time home buyer, or not, a USDA loan is the perfect fit.
Roll in Your Closing Costs: A USDA loan allows you to finance in your closing costs up to the appraised value. Making the USDA loan the only mortgage on the market with this ability.
To be eligible for a USDA Loan the home being purchased has to be located in an area deemed eligible by the USDA’s Rural Development department. Here is the link to the USDA Rural Development location eligibility checker page USDA Map
Per USDA’s Rural Development guidelines there are household income caps for the program. RD has segregated these restrictions per county. The income caps include total household income. Not just the persons on the loan but any person that will be residing in the residence. The average income cap for the program is about 75,000 a year for a one to four person household. Once you have more than 5 persons in the household the income limit goes up dramatically. Be sure to call us to verify if your income meets the guidelines for the USDA loans program in your area.
USDA Loans Underwriting Approval:
To be approved for a USDA loan the borrower or borrowers must meet credit requirements. Your USDA loan application can receive an underwriting approval down to a 620 credit score, although it is much easier to get approved over a 640. Applicants must demonstrate repayment ability for the loan along with a job history of at least two years. If you have just graduated from school the two year employment history can be waived. If you require more in depth explanation please go to our USDA loans Guideline page.
If you are in the market to purchase a home you should apply for or research a USDA loan to determine if you meet the requirements.
Call Today For More Information About USDA Loans: (912-332-1501)
© 2017 Hinesville Area Board of REALTORS All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocitysm Program. Real estate listings held by brokerage firms other than Remax All American Realty are marked with the BR logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2017-08-20.