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USDA Mortgage GroupUSDA Mortgage Loans
USDA Home Loan Washington – 100% Financing – No Mortgage Insurance
Primary Advantages of a USDA Home Loan
- No Money Down Purchase
- No Monthly Mortgage Insurance
- 30 Year Fixed Interest Rate
- Flexible Credit Underwriting
USDA Home Loans have become extremely popular over the past few years because they allow zero money down purchases with no mortgage insurance. While lenders across the country have tightened their credit criteria, the USDA Rural Mortgage Program has remained relatively unchanged. More than ever the USDA Rural Housing Program is committed to helping families accomplish their dreams of homeownership. If you have good credit and verifiable income, a USDA Mortgage can be an excellent way to make homeownership a reality.
Our clients benefit from our expertise in USDA Home Loans
We specialize exclusively in USDA Mortgages. If you are looking for a team of professionals who can guide you through the pre-approval and closing process with confidence, than you have come to right place. Our knowledge of the USDA Mortgages will give you piece of mind and help insure that you loan closes as scheduled. To learn more about the team visit our “about us” page.
Understanding the USDA Loan Program
USDA Home Loan Summary
- Available for Purchase of Pre Existing or New Homes
- Refinances are only allowed if your current Mortgage is a USDA Home Loan
- Available in Rural Areas only
- Borrowers occupy the property, no investment properties
- Borrowers must meet USDA’s Credit Eligibility Guidelines
- Borrowers must meet the USDA’s Income Eligibility Guidelines.
- 30 Year Fixed Interest Rates are available
- No Mortgage Insurance Premiums
Property Eligibility:
The USDA Mortgage Program is only available in rural areas, typically in towns that have a surrounding population of less than 20,000. Find out which areas of your state are eligible by visiting our property eligibility page.
Income Eligibility:
The USDA Home Loan Program was designed exclusively for low to middle income households residing in rural areas. To determine the maximum allowable income in your county visit our income eligibility page.
Credit Eligibility:
The credit criteria of USDA Mortgages is less strict then that of other mortgages. Bottom line: If you have decent credit and adequate income you will find that obtaining pre approved for a USDA Home Loan is simple. Read more about the USDA’s Credit Guidelines at our USDA credit eligibility page. Below you will find a list of common credit disqualifiers that many prevent you from securing a USDA Home Loan.
Credit Disqualifiers
- Foreclosure within the last 36 months.
- Bankruptcy within the last 36 months
- More than one 30 day late in the past 12 months
- Outstanding Collections
- Outstanding Judgments in the past 12 months
- Two or More missed rent payments within the last 24 months
- Chapter 13 Bankruptcy – Case by Case review
- Delinquent tax liens
- Delinquent student loans
Educating Our Clients
The USDA’s Rural Housing Program is fairly robust. We understand that you might have a unique situation or questions that are not answered directly on our website. That is why we make ourselves available 7 days a week to answer your questions. Feel free to call us today to get all your questions answered.