USDA 30-Year Mortgage Loan

USDA loans are designed to promote homeownership in rural areas. They offer unique benefits for eligible borrowers, but it's important to understand the different types and requirements. To learn more about USDA loans and check your eligibility, speak to one of our experienced mortgage experts.

• USDA Direct Loans: For low- and very-low-income borrowers
• USDA Guaranteed Loans: For low- to moderate-income borrowers
• USDA Construction Loans: For building a home in an eligible rural area

• Property must be in an eligible rural area
• U.S. citizenship or eligible non-citizen status
• Income within USDA limits for your area
• Ability to afford mortgage payments
• Decent credit history (typically 640+ score)

Properties must be owner-occupied primary residences, structurally sound, and meet USDA standards for safety and sanitation. They can include single-family homes, condos, townhouses, and even some manufactured homes.

Understanding the advantages and disadvantages of USDA loans can help you make an informed decision about your mortgage options.

• No down payment required
• Competitive interest rates
• No PMI required
• Flexible credit requirements
• Can be used for home improvements

• Limited to rural and some suburban areas
• Income limits apply
• Upfront and annual guarantee fees
• Property must meet USDA standards
• Longer processing times possible