Government Mortgage – USDA
And, just like FHA and VA mortgages, USDA also insures mortgages for borrowers who meet their guidelines and property requirements.
Expand your horizons with the USDA Guarantee Rural Housing Program offered by PrimeLending. This program is a great way for you to finance a new home or refinance your current home.
USDA Purchase Loan benefits include:
- 30-year fixed rate
- Self-employed income accepted
- No maximum loan amount
- No reserve requirements
- 620 minimum FICO score
- 100% financing/no down payment up to the appraised value of the property
- Meet the applicable adjusted income eligibility limit”
Eligible properties must be located in a rural area as defined by USDA Rural Development and cannot produce income.
USDA Refinance Program
To cultivate the BEST loan possible based on today’s low interest rates, now may be the perfect time to refinance your current USDA loan with the Refinance Program.
- Be a current Section 502 Guaranteed loan borrower
- Meet the applicable adjusted income eligibility limit
- Reside in an eligible rural area, or an area that was eligible at the time of original loan closing
- Have made timely mortgage payments for the previous 12 months at the time of loan application