USDA Mortgage Loan

USDA The Rural Housing Service (RHS) offers mortgage programs that can help low-to moderate-income rural residents purchase, construct, and repair homes.  This program may get you into a home with $0 down payment.  This loan provides a government backed loan.  One of the biggest hurdles that first time homebuyers face is saving up for a sizable down payment on a home. Even experienced homeowners may need to plan for a long time for a new home purchase. Fortunately, USDA mortgage loans may help some buyers get into the home of their dreams with minimal out of pocket.

Eligibility

USDA mortgage loans are only available to borrowers who meet certain income and property location requirements. The property must be located in a designated rural area, and the borrower must have a low to moderate income.

• Loan to Value to 100%
• Down to 620 Score 
• Check your USDA Property and Income Eligibility HERE
  
• USDA does not have FLIP rules like FHA

No Down Payment

No Down Payment: One of the biggest benefits of a USDA mortgage loan is that it does not require a down payment. This can make homeownership more accessible for many borrowers who may not have the funds for a down payment. Closing cost still apply.

Have questions?  Give us a call! One of our mortgage specialists would be happy to answer all of your questions.

**Castle Rock Mortgage is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA or the Federal Government.