What is a USDA Mortgage?

By
Real Estate Agent with Come Home ATX

What is a USDA Mortgage?

 

 

What is a USDA Mortgage?

 

Other terms for a USDA Mortgage are; Rural Development Loan or Rural Housing loan. USDA mortgages are designed by the government to help medium income Americans in rural and suburban areas buy a new home.

There are many benefits of using a USDA Mortgage. No money down, low interest rates, 30 year fixed rates, Government guaranteed, and you may be able to roll in closing costs with the loan.

In addition to qualifying for a USDA Mortgage, a home must also meet certain location requirments.

The picture below shows the ineligble areas.

Tan areas is ineligible for USDA Loans

 

Apply for a USDA Mortgage!!!

 

 

Thank you for reading, What is a USDA Mortgage?

Comments (1)

Laura Borja Mortgage Professional
Supreme Lending NMLS 2129 - San Diego, CA
Specializing in VA and FHA Loans

This is a great tool for those that would like to purchase with no money down and do not qualify for VA financing.

Dec 19, 2013 07:45 AM