Rural Housing (USDA) Loan

USDA

Forget the city life.

It’s better in the country. That’s why you want to live in a rural community. The United States Department of Agriculture (USDA) subsidizes qualified borrowers through the Rural Housing Loan. The USDA determines what “rural” means, and that varies widely by state. But if you’re eligible, you can qualify for lower monthly payments and you don’t need money for a down payment. You’ll also spend less time in traffic driving to the closing.

Key Features:

  • Available as a 30-year option with a fixed rate
  • Finance 100% of your home with no down payment requirement
  • No mortgage insurance means you have lower monthly payments
  • The loan’s income eligibility cap varies by community

Requirements:

Down Payment None
Terms 30 years, fixed rate
Credit Score 640 minimum
Mortgage Insurance No*
Maximum Loan Limit Yes, varies by county
*Up-Front Guarantee Fee financed into the loan.

Equal Housing Lender
PRMI NMLS: 3094. Some products and services may not be available in all states. Credit and collateral are subject to approval. Terms and conditions apply.
This is not a commitment to lend. Programs, rates, terms and conditions are subject to change without notice. Florida Office of Financial Regulation MLD646.
Licensed by the Massachusetts Division of Banks as a Broker and Lender as #MC3094. Bureau of Financial Institutions: MC-2248 Broker MC-2248 NMLS # 3094. NMLS Consumer Access.
“Licensed by the New Hampshire Banking Department” 10706-MB. Branch Phone: 603-718-3184

Eric LaFleur MLO165839
NMLS #996610