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USDA Loan- Mortgage.info

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MORTGAGE.INFO
LENDER HOTLINE: 888-581-5008
What is a USDA Loan?

The United States Departments of Agriculture has set us a variety of loans that are made to help low- or moderate-income people buy, repair, or renovate rural homes. There are some great opportunities for low income families in rural areas to take advantage of with a USDA loan.

There are three USDA mortgage loan programs to help you find a program that most fits your situation. Loan guarantees, Direct loans, and Home improvement loans and grants.

Loan guarantees are loans that the USDA guarantees. This is a mortgage that is issued and approved by a local lender, much like FHA and VA backed loans. This allows for very low interest rates, and sometimes no down payment is required. However keep in mind that if there is little to no money down on your home there will be an MIP requirement.

Direct Loans are also issued by the USDA which allow for very low income applicants. These thresholds can vary by region. However this can be a great opportunity for low-income families to get the help they need for necessary expenses.

Home improvement loans and grants are loans or outright financial awards that permit homeowners to repair or upgrade their homes. Packages can also combine a loan and a grant, providing up to $27,500 in assistance.

The USDA’s eligibility requirements:

Must be a US citizen
Must make monthly payments
Must have a dependable income
Requires an acceptable credit history
USDA loans are also only eligible in rural areas. In general Metropolitan areas are excluded from USDA programs. If you think your home may apply talk to a lender today and get the assistance you need.

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USDA Loan- Mortgage.info

  1. 1. USDA LoansMORTGAGE.INFO MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  2. 2. What is a USDA Loan? MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  3. 3. The United States Departments of Agriculture has set us a variety of loans that are made to help low- or moderate-income people buy, repair, or renovate rural homes. There are some great opportunities for low income families in rural areas to take advantage of with a USDA loan. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  4. 4. There are three USDA mortgage loan programs to help you find a program that most fits your situation. Loan guarantees, Direct loans, and Home improvement loans and grants. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  5. 5. Loan guarantees are loans that the USDA guarantees. This is a mortgage that is issued and approved by a local lender, much like FHA and VA backed loans. This allows for very low interest rates, and sometimes no down payment is required. However keep in mind that if there is little to no money down on your home there will be an MIP requirement. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  6. 6. Direct Loans are also issued by the USDA which allow for very low income applicants. These thresholds can vary by region. However this can be a great opportunity for low-income families to get the help they need for necessary expenses. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  7. 7. Home improvement loans and grants are loans or outright financial awards that permit homeowners to repair or upgrade their homes. Packages can also combine a loan and a grant, providing up to $27,500 in assistance. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  8. 8. The USDA’s eligibility requirements: Must be a US citizen Must make monthly payments Must have a dependable income Requires an acceptable credit history MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  9. 9. USDA loans are also only eligible in rural areas. In general Metropolitan areas are excluded from USDA programs. If you think your home may apply talk to a lender today and get the assistance you need. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  10. 10. MORTGAGE.INFO LENDER HOTLINE: 888-581-5008 CLICK HERE TO LEARN MORE MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  11. 11. Justin McHood is Americas Mortgage Commentator and has been providing Mortgage commentary for over 10 years. Information provided by: Justin McHood MORTGAGE.INFO MORTGAGE.INFO LENDER HOTLINE: 888-581-5008
  12. 12. LEARN MORE ABOUT MORTGAGE.INFO: MORTGAGE.INFO _MORTGAGEINFO FACEBOOK.COM/WWW.MORTGAGE.INFO PINTEREST.COM/MORTGAGE_INFO LENDER HOTLINE: 888-581-5008 MORTGAGE.INFO LENDER HOTLINE: 888-581-5008

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