A USDA home loan is an affordable mortgage option for eligible home buyers in designated rural areas. USDA loans are government-backed, which means mortgage lenders can offer lower interest rates in many cases. As a matter of fact, if you qualify, you can buy a home with no down payment, although you’ll still need to pay closing costs.The USDA offers three main mortgage programs:

• USDA Direct loans – issued for qualifying low-income borrowers with interest rates as low as 1%.
• USDA Loan guarantees – issued by participating lenders and offer low interest rates and minimal down payments as low as 0%.
• USDA Home improvement loans – given to qualified homeowners to make repairs or improvements on their homes.

Home buyers need to meet certain USDA eligibility requirements to be considered for a USDA construction loan or qualify for a USDA loan to buy a home, but this loan program is an excellent choice for eligible individuals due to its affordability.

To get pre-approved for a USDA loan, please click the Get Approved button below. Still have some questions? Call your licensed Approved Mortgage Solutions mortgage broker at the phone number below or Contact Us and we’ll reach out to you.