Monday, July 24, 2017

USDA Home Loan Program NOT just for Farmers


USDA is a power loan helping first-time and lower income home buyers realize the American dream of owning their own home. You don’t have to be a first-time homebuyer to qualify. This loan features ZERO down and allows you to incorporate 2% of your closing cost into your loan. 


USDA loans are eligible in rural and suburban areas in the US, they allow many types of property of be included. Townhouse, Condominiums, Single Family Residents as well as multifamily units. You can also use a USDA loan for refinancing your current home. It’s THE most affordable loan product in the marketplace with zero down, the lowest mortgage insurance rates (MI) with a 1% upfront fee and .35 monthly rate.

USDA is a loan program provided by the US Department of Agriculture. But don’t let that discourage you thinking this loan is for AG land or farmers only, not the case at all.

USDA guarantee the loan, this means the US Department of Agriculture backs the lender if for some reason you default on your loan and reimburses the lender, this insurance allows lenders to approve loans at a higher risk with zero down.

It’s easy to get started to see if you qualify, contact me for a fast, easy and free prequalification process. I will provide you with a preapproval letter for your Realtor, you can then go shopping for your home.


Once you find a home you’ll want to make sure it’s in an approved USDA area prior to submitting an offer.  You can easily check at USDA link Income/Property Eligibility to see if your income and property are eligible. 

Your home will be appraised to insure value, the lender will send your file to USDA for final approval and once they sign off on your loan approval, you close escrow and move into your home. It’s about a 60-day process. In most cases USDA will take no more the 14 days to review and approve your loan once submitted by your lender.

I hope this information has been helpful to you.


I always welcome and encourage your comments and questions.
Thank you for stopping by my blog, enjoy your day!

Roxy Redenbaugh
ACMC Loan Consultant
Certified Mortgage Coach
Branch Manager
NMLS #269926