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USDA Loans are Available!
Receive a quote on a USDA loan today π
Buy a Home Outside the City Limits with USDA!
Why an USDA Loan?
USDA home loans, also known as USDA Rural Development Guaranteed Housing Loans or Section 502 loans, are designed to help low- and moderate-income households purchase homes in eligible rural areas.
Β Fixed-Rate Mortgage
Β Low Mortgage InsuranceNo Loan Limits
Β 30-year fixed-rate loan
USDA Mortgage Underwriting Guidelines on USDA Loans
If you satisfy the income limits, the underwriting process will involve confirming the presence of a reliable income source to support forthcoming mortgage payments. The underwriter will examine your credit report, emphasizing a pristine payment history over the preceding 12 months.
While delinquent payments may not automatically disqualify you from FHA mortgage loans, itβs crucial to note that USDA mortgage lending imposes a particularly stringent standard on payment history. This highlights the importance of meeting USDA home loan requirements.
The USDA Loan Process
Hereβs how our home loan process works:
Complete our simple USDA Loan
Receive options based on your unique criteria and scenario
Compare mortgage interest rates and terms
Choose the offer that best fits your needs
Here are some key benefits of USDA loans:
- USDA loans offer 100% financing, meaning no down payment is required.
- Competitive interest rates are available for USDA loans.
- They may be more lenient than those for conventional loans.
- Borrowers must meet income eligibility requirements based on the local median household income.
- Properties must be located in designated rural areas.
Calculate Your Payments
Use our Payment Calculator to estimate your monthly mortgage payment. You can input a different home price, down payment, loan term and interest rate to see how your monthly payment changes.
Live Market Pricing
Welcome to our comprehensive live market pricing feature! We understand that securing the best mortgage rate is crucial when making one of life’s biggest investments.
Loan Process
Welcome to our comprehensive guide to the loan process. Whether you’re a first-time homebuyer or experienced investor, understanding the steps involved in securing a loan is crucial. We’re here to simplify this journey for you.
NEXA Mortgage LLC.
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