There are many advantages to choosing a USDA backed mortgage.

Home buyers who buy a home in a qualified USDA area, and who meet USDA income eligibility requirements, can take advantage of the USDA's low mortgage rates and a program which required no down payment whatsoever. One hundred percent financing makes these loans among the most desirable of loan programs still in existence. The only other programs out there that offer this today are VA loans and transactional funding for those flipping houses.
Even better than just no down payment, going this route means the possibility of rolling in closing costs or use grants and gift funds, something most other programs won't allow borrowers to do.

Want more? You may even qualify using “non-traditional” credit and you don't have to have amazing credit to get approved either. You should have at least a 620 to 640 credit score, but you may be able to use credit references like cell phone, insurance and utility bills to build out your credit if you don't have very much of it.

No Maximum Purchase Price. The USDA Rural Development program has no maximum purchase price limit. However, a lender will still determine the maximum amount of loan each applicant is eligible for based on ability to repay.
Plus, USDA direct home loan interest rates are some of the best around and often better than conventional mortgage rates. The rates on guaranteed loans are determined by the individual lender.
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