USDA – United States Department of Agriculture

Realize the dream of owning a home using a USDA Rural Development Program. USDA Guaranteed loans are only off­ered on properties that are located in a USDA designated rural area. This program offers mortgage financing without many of the restrictions other programs may require. One of the best benefits of USDA home loans is that no down payment is required which allows families with minimal funds the opportunity to become homeowners. Not sure where to begin? Contact the Supreme Lending team today. We look forward to helping you get into the home of your dreams.

USDA Guaranteed Rural Housing Loans Program Highlights:

  • No down payment required
  • Property must be located in an eligible rural area
  • Applicants with a wide range of credit profiles
  • Income eligible applicants who do not qualify for conventional financing
  • Families & individuals that have minimal funds
  • Available to first time homebuyers and repeat homebuyers
  • 100% financing available
  • Seller concessions allowed
  • No cash reserve requirement
  • No non-allowable cost
  • No first time homebuyer requirement
  • 30 year fixed at competitive fixed rate
  • No limit on gift funds
  • Maximum eligible income limits apply
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NOT A GUARANTEE, OFFER OR AGREEMENT. EVERETT FINANCIAL, INC. D/B/A SUPREME LENDING NMLS ID #2129 (www.nmlsconsumeraccess.org) 14801 Quorum Dr., #300, Dallas, TX 75254. 877-350-5225. © 2017. Information, rates, & programs are subject to change without prior notice. Subject to credit & property approval. Not affiliated with any government agency. Intended for Texas Consumers Only. Texas- SML Mortgage Banker Registration Residential Mortgage Loan Originator.

Who Should Apply for USDA Home Loans?

If you’re looking to finance a home in the country, a USDA home loan may be your best bet. USDA financing makes it possible for people who cannot qualify for a conventional loan to purchase their dream home. If you are buying a house in a rural area, have a low income and can’t afford a down payment, this is a great opportunity for homeownership.

The other good news about USDA home loans is that you don’t have to be a first-time homebuyer to qualify. You can also use USDA loans to refinance your current house to take advantage of a more favorable interest rate. Whatever your home loan needs may be, Supreme Lending is ready to help with an affordable loan, quick turnaround and customer service that doesn’t end with the signing of a contract.

How Do USDA Loans Compare to Other Types of Loans?

USDA loans cover 30 years. Their rates are often lower than those of a conventional 30-year fixed mortgage or Federal Housing Administration (FHA) loan. For veterans with a limited income, USDA home loans are better options than VA loans, assuming the plan is to purchase a home located in a rural area.

Whatever your financial situation, it’s always a good idea to explore all your options. At Supreme Lending, we’ll help you find the right loan for your circumstances, whether it’s a USDA loan or another type of home financing. You can explore the types of home loans we offer to get an idea of the best type of mortgage for your circumstances, or check out our learning center for informative home buying articles. Then give us a call when you’re ready to finance your new home!

Frequently Asked Questions About USDA Home Loans

We’re here to address any concerns you have about USDA loans. Following are some of the questions other customers have asked. You can also check out our Frequently Asked Loan Questions page for more topics.

How Can I Find Out if I'm Eligible for a USDA Home Loan?

The government has a website you can use to determine eligibility for a USDA home loan. Just choose the type of loan you’re interested in and enter the property’s address to see if it’s eligible for a USDA loan. You may be surprised to learn that many properties in rural towns are eligible for USDA home loans. So even if you don’t live on a farm, you may still be able to take advantage of this type of loan.

Is There Any Downside to Getting USDA Loans?

You can only apply for a USDA loan if you’re buying or refinancing a primary residence. If you’re purchasing a second home or rental property, you’ll need to apply for another type of loan. Another possible drawback is there are income limits, so if you have a higher income than the allowed limit, you will not be eligible. And keep in mind that you’ll have to pay mortgage insurance, which will be factored into the cost of your loan.

What Are Water Test Requirements for USDA Home Loans?

There are testing requirements current homeowners must meet when selling property being financed by USDA home loans. For example, if there’s a well on the property, it must meet the standards set by the state or local authority or the EPA, if no standards are in place for that area. A water quality analysis will be performed to ensure the water is safe for consumption. There are also guidelines to ensure the septic system is situated correctly.

Why is Supreme Lending the Best Place to Get USDA Loans?

Our loan officers have the experience and know-how to guide you through the USDA loan process. They’ll work with you to complete all the necessary steps to get you into your home as quickly as possible.