USDA Loan Eligibility
The USDA loan is part of a federal program that supports rural development. If you’re buying a home in a rural area, make sure to check with me to determine if you’re eligible for a USDA loan. The USDA loan requires ZERO down payments – which is almost unheard of these days.
Other benefits to the USDA loan includes a 30-year fixed interest rate – meaning the rate will not adjust over its lifespan. Also, no mortgage insurance is required on a USDA loan.
If you’re eligible for a USDA loan, this is a great route to financing. Below are some eligibility requirements:
- Rural area
You must purchase property within an eligible area. To determine if you’re eligible, check out the interactive map on the USDA’s website or call my office at (916) 371-6300.
- Income requirements
There is an income limit that is set for your county – you must not exceed that in order to be eligible. Some of the factors that go into determining include:
- Your county
- The total number of people in the household
- The number of residents under age 18 (or disabled or full time students)
- Your age
- The number of disabled persons in the home
- Your monthly expenses versus your income
- Credit history
This works differently than a credit score – your credit history will be reviewed to determine if you appear to be someone able to repay the debt and not default on the loan.
Get started by calling us at (916) 371-6300.
We've been working with Lori since October 2013. Lori has been pleasant and extremely helpful for Us with our initial home purchase and refinancing. She made the process easy and non stressful. We wouldn't think of working with anyone else. She's guaranteed to get you what you want!
Lori is an extremely professional flexible loan agent. I have been working with her for several years now and she is the only person I have been going through for my loans and every time she has been honest with me about what to do and how to do it. I highly recommend her to whomever is looking to purchase their first home or buying a second or more property. She will be persistent and punctual with you and make things as easy as possible. She also has ana amzing team behind her that helped us along the way when Lori was unavailable.
Lori was amazing. Wonderful experience in refinancing our home! The process was quick and easy, she saved us money and stress. Absolutely use her services in the future.
Lori and her staff were awesome. They worked really hard for us in this trying time. They communicated with us all the way through the process which is important to me!
I recently purchased my home last year using the VA. I went to Lori less than a year later and they refinanced my home saving me almost 300 a month. Will definitely use her on my next home purchase!
We have now worked twice now with Lori and her team. We have worked with a few different lenders and Lori is by far the easiest. They are efficient and care about getting you the best deal. Definitely have recommended to family and friends.
Very easy transaction and the staff were on top of it. I was kept updated and knew exactly what was happening every step of the way. Highly recommended!
Lori and her team were amazing when I refinanced my home loan! Lori personally answered all of my questions and was right by my side during the whole process; explaining everything to me in detail. I couldn’t have asked for a better experience!
Lori is a wonderful woman. She helped me purchase my home I’m in, and 2 years later here I am working with her again to refinance. The process was so easy she is like an angel from heaven. I will always do business with her.
This is my second transaction with Lori. I would look no further if you are looking for someone who is knowledgeable in the business. She makes the lrocess so easy.