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USDA
Live Comfortably Outside of City Limits
Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for properties located in designated small towns, suburbs and exurbs. This program helps eligible low- to moderate-income families achieve homeownership by offering a no down payment option.
USDA Loan Highlights
With flexible requirements, USDA loans feature:
- 100% financing + required guarantee fee = 102% of the appraised value
- Low FICO score requirements
- Low interest rates
- Low closing costs
- Gift funds can be used for closing costs
- 30-year, fixed-rate mortgage
USDA Loan Eligibility
Eligibility is based on the property size, location and condition along with income and other qualifying factors. Some of these requirements include:
- Property must be located in a USDA designated rural area
- Maximum loan limits vary based on location
- Household members can have a total income of up to 115% of the medial income for the area
- Household must be able to afford the mortgage payment, including property taxes, homeowners insurance and the annual guarantee fee payable on a monthly basis
Interested in a USDA loan, please schedule a call today!
Thinking of buying a home? Learn more about the home buying and mortgage process. Most importantly, get tips on how to avoid pitfalls and guarantee a smooth experience.
WHAT ARE CUSTOMERS ARE SAYING
“They are friendly, knowledgeable, and were always accessible for questions and concerns from a first time home buyer. I felt well taken care of every step of the way.”
Tori P.
“I've been working with Sean and his team for several years now and they have continually demonstrated exceptional professional service.”
Jack K.
“I loved how personalized our experience was. Sean and his associates did an outstanding job staying on top of our financial transactions, with the utmost professionalism.”
Sandra H.
“You couldn’t ask for a more loyal, friendly, knowledgeable, or hardworking lender! I’ve been working with Sean for the past couple of years and in that time he’s gone above and beyond countless times for our clients.”
Tom M.
“Sean and his entire team are phenomenal!! They made the process so easy and with very little stress. Sean was so accessible for any concerns or questions I had which was unexpected and awesome!”
Heather H.
“Rock solid team. Dealt with Sean and Jamie, and they both got the job done. It was a breath of fresh air to work with competent and clearly seasoned mortgage professionals.”
Michael D.
“Sean & his team can’t be more accessible and accommodating with all of my questions. They are very professional and really easy to work with.”
Sue J.
“Sean and his team were top notch! They would notify us if we needed to get whatever paperwork needed, or a signature, etc...they did all the hard work for us! Their follow up was stellar.”
K. N.
PROMISE HOME LOANS
NMLS #: 2372318