USDA Loans

 

A USDA Loan is a mortgage loan that is insured by the US Department of Agriculture and available to qualified individuals who are purchasing or refinancing their home loan in an area that is not considered a major metropolitan area by USDA.

USDA Loans
 

Great for First-time Home Buyers

Possibility to Finance Closing Costs

No Down Payment Requirements

No Prepayment Penalties

Low Rates

Existing Homes, Foreclosures, New Construction

Benefits of USDA Loans

  • No Down Payment - you can buy a home with no money down. In some cases you can even finance your closing costs.
  • You can refinance your home with all of the value of your home.
  • Low Fixed Rate Mortgage Options.
  • The Government insures the loan so that there is less risk to the lender.
  • They can be used for Existing Homes, Foreclosures or New Construction.
  • Simplified Loan Process.
  • No Loan Limit. No Acreage Limit.
  • There is No Prepayment Penalty.
  • You can use the loan to repair or add on to your home.
  • Flexible Credit Requirements.

Who is eligible for a USDA Loan?

Generally these loans are available to anyone who meets minimum credit guidelines and local area income requirements and is purchasing a home or refinancing their home in an area that is not considered a major metropolitan area by USDA.

Some common misconceptions of USDA Loans:

  • They are just for farmers - USDA Loans are not "just for farmers," millions of people from all walks of life already qualify.
  • FHA or Conventional Loans are better - USDA Loans often offer better terms than an FHA or conventional loans.
  • They aren't flexible - Actually, USDA Home Loans can be used to buy a new home or refinance to a lower rate.
  • Only certain people can qualify - Anyone who meets the income and credit guidelines can qualify for a USDA Home Loan.
  • They are only for rural areas - Actually, USDA Loans are available in many areas that most people would not consider rural. For example, many small communities just outside of metropolitan areas qualify as rural areas according to the US Department of Agriculture.
  • They are harder to get than FHA or Conventional Loans - This just isn't true.  In many cases USDA Loans are actually easier to get because the loans are guaranteed by the government.

Contact Us Today to See if You Qualify for a USDA Home Loan:

 

Main Office (Sidney)

733 Fair Rd.
Sidney, Ohio 45365

Lebanon Branch

901 N Broadway
Lebanon, Ohio 45036

Mason Branch

7577 Central Parke Blvd Suite 314
Mason, Ohio 45040


Phone: 800-736-8485
Fax: 937-497-9020
Email: Trose@westernohiomortgage.com
NMLS: 9601
We are licensed in the following states: Ohio: MB-801814.000, Indiana: 15536, Florida: MLD154, Kentucky: MB72955; 

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