USDA Loan Program:
The USDA Guaranteed Loan Program enables borrowers with moderate or higher income to obtain up to a 100% LTV mortgage for their home purchase. Those that apply for a USDA Guaranteed Loan are permitted to have taxable income of up to 115% of the median household income set for their county. USDA Guaranteed Loans are 30 year fixed-rate mortgages and only certain rural cities qualify.
USDA allows for purchase of a previously owned home or a new construction. Borrowers must provide financial documentation to prove their ability to pay their monthly mortgage including homeowner’s insurance and property taxes and fall within a certain debt to income ratios. USDA applicants go through a similar loan process like any other type of home loan (FHA, VA, Conventional, etc).
Even though I mainly do USDA Home Loans in Mendota CA, Oakhurst CA, Selma CA, and Reedley CA, I’m able to serve the entire state of California.
Contact me to find out if you qualify for an USDA loan. APPLY NOW for your free pre-approval!