A USDA Loan is like it sounds, offered through the United States Department of Agriculture. Technically, only available to rural home owners, but many suburban places qualify that wouldn’t be considered rural.
Call us and speak with an Acre Mortgage professional. We can tell you if the area or the home you are looking at qualifies for a USDA loan and even pre-approve you for the loan without cost or commitment.
USDA mortgages offer low rates, no mortgage insurance and up to 100% financing.
USDA’s Single Family Housing Programs provide direct loans or loan guarantees to help low- and moderate-income rural Americans buy safe, affordable housing in rural areas. USDA also offers loans and grants to help rural residents make health and safety repairs to homes.
USDA’s Multi-Family Housing Programs offer loans to provide affordable rental housing for very-low-, low- and moderate-income residents, the elderly, and persons with disabilities. Funds also may be used to buy and improve land and to provide necessary facilities such as water and waste disposal systems. In addition, USDA offers rental assistance to help eligible rural residents with their monthly rental costs.
USDA’s Community Facilities Programs provide loans, grants and loan guarantees for essential community facilities in rural areas. Priority is given to health care, education and public safety projects. Typical projects are hospitals, health clinics, schools, fire houses, community centers, first responder vehicles and equipment and many other community-based initiatives.
Information provided by rd.usda.gov
Note: Federal loan programs are subject to change.