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.
Lori and team answered all of our questions, got us the best possible rate, and were professional. We are very happy with their service and would not hesitate to use them again.
Lori and her team were phenomenal in all areas!! Loved our communication, loved the rate that we got locked, everything was sooo easy peasy!! All little challenges with swiftly navigated; I honestly can not say enough about how much I enjoyed having Lori and her team be my loan pros for my refi. I shopped around; and hands down she gave me the best deal I could have ever found! The best part is she is part of my awesome community, and it was great to work with that I know and admire in my community!
We have now completed two new loans and two refinances with Lori. She is always on top of her game, providing numerous options to help us determine what will best work for our situation. Lori is responsive, attentive, helpful, and patient. Thank you as always for your help and service, Lori! 2020 update: Lori is responsive, professional, and efficient. Our latest mortgage with Lori (a refinance) was remarkably easy to close.
Lori and her provide world class service throughout the loan process. They were ready and willing to answer any questions throughout the process and provided daily updates.
SUPER EASYsuper smooth transaction. Website for you to upload what you need. Lori almost knocked our APR in half. Also the price to refi was almost half of what we were charged on our last refi. Lori is so easy to work with. If you done a refi before you know how things can go.
Lori and her team were extremely professional, informative, and friendly. They walked me through every step of the process and answered all my questions, got everything done faster than I had thought possible. So happy with my decision and the results! Would recommend to everyone!
I purchased a home and completed a refinance with Lori, and she and her team make the process seamless. I will definitely call Lori for my future loan needs!
Lori and her team were patient and always answered my questions quickly. They took all the time I needed to feel comfortable every step of the process
Lori was amazing to work with. She was on top of everything and extremely helpful thorough this home buying process! She helped us do a 21 day close. I would recommend her to any one wanting to purchase a home.
From start to finish a great experience. The technology was very easy to navigate and the follow through was great. There was consistent communication throughout the process.