USDA Mortgages are not Just for Farmers…
USDA Mortgages or Rural Development Home loans were once thought of as home loans exclusively for farmers. Truth of the matters is they are available to anyone who resides in a USDA deemed “rural area” and meets the USDA’s qualification criteria.
Odds are that if you’re looking to purchase a home in Washington or Oregon that is located in a rural area, you might be eligible USDA Mortgage. If you have already identified a property and would to determine if it is eligible, type the property address into the USDA’s Property Eligibility Search Engine. If the search engine determines that the property is eligible you only need to complete an income and credit review to get qualified for a USDA Home Loan.
As lending guidelines have become stricter the USDA Mortgage has become the most popular home loan for borrowers who are looking to purchase a home with Zero (no Money) down and who want to avoid a monthly Mortgage Insurance Premium (MIP). With the USDA’s flexible underwriting guidelines even borrowers with less than perfect credit can qualify and obtain interest rates that are competitive to other 30 year fixed conventional loans. You can read more about the advantages of a USDA Mortgage on our site.
If you’re searching for the experienced local lender who can close your rural mortgage, contact the professionals at USDA Mortgage Group and get qualified for a USDA Home Loan. We offer obligation free advice and Northwest expertise. We would be happy answer any questions you might have and determine if USDA home loan is right for you.
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