The USDA Refinance Pilot Program was originally introduced in 2012 to give rural home owners a chance to take advantage of record low interest rates. This pilot program was a success, therefore the program has permanently matured into the USDA Streamline Refinance. Read More
USDA Guaranteed Loans are a zero down payment mortgage program that can be used to purchase rural homes across the country. To be eligible for a USDA Guaranteed Loan, applicants must make less than 115% of the area median income where the home is located. These limits vary from county to county and you can look yours up below:
USDA Direct Loans are primarily for low income applicants to purchase rural homes. To be eligible for a direct loan, applicants must make less than 80% of the area median income where the home is located. These limits vary from county to county and you can look yours up below:
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USDA loan eligibility is determined by household size and geographic location, as well as the standard mortgage approval guidelines like income verification and credit scores. When evaluating which USDA loan limits apply to your circumstances, it’s important to understand there are two types of USDA home loans available today: USDA Guaranteed Loans and USDA Direct Loans. Read More
Use our free USDA mortgage calculator to figure out your monthly payments. USDA loan fees include an upfront guarantee fee thats equal to 1 percent of the home loan amount. In addition, you’ll factor the annual fee which equals 0.35 percent of the yearly loan amount, and routine homeowner expenses like property taxes and home insurance. Find out now if USDA loans work for you.
