USDA mortgages are available for select homes in certain areas of the United States. They are an affordable alternative to conventional home loans, due to the fact that they require zero money down and are available at competitive interest rates. However, there are certain restrictions and requirements that might make a USDA loan a less attractive option for some buyers. The main restriction is that the home covered by the USDA loan must be located in a designated rural area. This may mean that your home search will be limited to specific areas if you want to take out a USDA loan. This may be fine for some buyers, but others may not like having to compromise on certain amenities, community features or school districts.
In order to see if a property is eligible for USDA financing, contact us at the phone number below.
Contact us today at (813) 534-6889 or request a no obligation rate quote.
Why Consider a USDA Mortgage?
No Down Payment Required
USDA rural housing loans offer lower and middle income borrowers the ability to purchase properties in USDA eligible areas with no money down.
Not Just for First Time Buyers
Many people think that USDA mortgages are only available to first time home buyers. This is not the case. Contact us today for more information.
Competitive Interest Rates
We work with multiple wholesale lenders so we can shop for some of the most competitive USDA mortgage rates on any given day.
Streamline USDA Refinancing
If you currently have a USDA mortgage and are considering refinancing, we’re here to help. Potentially save time and money with a USDA refinance.
Less Strict Guidelines
Borrowers may be able to qualify for a USDA mortgage even if they have been unable to do so through conventional financing channels.
Types of Homes
USDA rural housing loans can be used to finance most types of residential properties (some restrictions may apply). Farms and commercial properties are ineligible.