USDA Loans Pleasant Hill

USDA Loans Pleasant Hill

USDA loans are great for borrowers who are looking for an affordable, zero-interest loan in a rural or small community. This can include a small country town, rural area, or even an area outlining a large metropolitan area.

There are several attractive features of USDA loans, with the primary one being that USDA loans require zero interest down. Borrowers can apply for a 30-year loan that is 100% of the home's value. Mortgage insurance isn't an issue either.

USDA loans are issued by the government and created to open the opportunity for home ownership among many people who would otherwise not be able to get into a home. They're often called Rural Development loans. Often times smaller areas don't have the same resources as larger areas for loan options, and conventional loans are more difficult to secure. USDA loans open the opportunity for home ownership to a wider group of people. Minor credit problems may be waived, and the qualifications to apply are less stringent than traditional conventional loans.

Encourage any clients purchasing property in a smaller, rural area to look into a USDA loan. Qualifications (as set by the US Government) include:

    •    Must be age 18 years of age, or older
    •    Be a US citizen, US Non Citizen National or have a qualified Alien status
    •    The property purchased must be occupied as the primary residence.
    •    Only one house in the area may be owned and purchased with a USDA loan.
    •    A conventional loan (requiring 20% down) must not be applicable nor available.

I have years of experience with USDA loans and would love to help you and your clients learn more about them, and determine if this is an option for their mortgage loan.

USDA Loans Pleasant Hill

Updated:4-12-13

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