6 Reasons You Should Take a 2nd Look at USDA

Education & Training with Ask The Underwriter

The USDA  Guaranteed Loan Program is among the most beneficial programs for

homebuyers wishing to purchase a home outside densely populated area. This loan is designed to help rural Americans achieve the dream of owning a home. You would be surprised at what areas qualify as rural. Check out the property eligibility website here.  The SFHGLP has numerous benefits that allow borrowers to purchase a home, especially those who may not qualify for conventional home financing.

Other notable benefits include:

  • $0 down payment. The borrower has the flexibility of paying nothing out of his or her pockets.
  • For the USDA single-family guaranteed home loan program, it is imperative to state that the USDA is not a lender and instead it guarantees each loan against default.
  • Flexible credit guidelines. Individuals seeking to buy homes with less than perfect credit history or nonexistent
  • Favorable loan terms. This loan is available in 15-year fixed rate mortgage and 30-year fixed rate mortgage
  • Competitive interest rates. Current Fannie Mae yield for 90-day delivery (actual/actual) for 30-year fixed rate conventional loans, rounded up to the nearest one-quarter of 1 percent.


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 D. Bass


Mortgage Underwriter/ Training and Development Coach



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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I loved promoting USDA loans in our area D. Bass . There was only one city in our entire MLS where they could not be used.

Sep 11, 2019 03:00 PM #1
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

D. Bass there was a time that USDA use to run out of funding early in the year, but that has not been an issue for several years now, and should no longer be a concern.  However, many of the old time Realtors still remember those days and continue to advice their Buyers against applying for a USDA Mortgage.

Sep 13, 2019 10:42 AM #2
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D. Bass

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