Benefits of a USDA Mortgage Loan

No Down Payment

No Down Payment require with USDA

Location Eligible

You must live in a USDA eligible area

Discounted MIP

USDA mortgage insurance almost half

First Time Buyer

USDA loan requires very little if any out of pocket

FAQ About Using a USDA Mortgage Loan

Where can I find loan limits for USDA loans?

USDA Guaranteed loans do not have set loan limits, but do have rather detailed income limits that are designed determine your maximum loan limit at 100% financing. 

The first thing you need to do is look up the address to see if it's located in a 100% USDA eligible area - Click Here for USDA Address Lookup

Can I finance the closing costs with a USDA mortgage loan?

Under certain circumstances, you can finance your closing costs if you're buying using a USDA mortgage loan.

To be eligible to finance your closing costs, the appraised value must come in over the purchase price.  You can finance up to 104% of the appraised value of the home.

For most home buyers, this makes any remaining out of pocket cost incredibly manageable.

Can I buy a Jumbo home with USDA mortgage loan?

USDA mortgage loan guidelines allow 100% financing up to the appraised valued of the property, based on your income eligibility.

Any purchase price above the maximum you qualify for must be brought in as down payment.