USDA Loans

USDA Loans

frances-gunn-QcBAZ7VREHQ-unsplash (2)How do I know what qualifies as rural area for a USDA loan?

Check out the USDA map for eligibility here.

Do I need a job to qualify for a USDA loan?

Yes. To qualify for a USDA loan, you must have reliable income and show that you have had steady work for at least a 2 year period. U.S. Citizen, Permanent Resident Aliens, and Non-Permanent Resident Aliens are eligible borrowers, with valid documentation of residency status.

Do I have to live in the home?

USDA loans are only for those who will live in the home as their primary residence. You cannot get a USDA loan for a home you plan to rent out for income, use as a second home, or buy for a child or another person in your family.

Do I need good credit to qualify for a USDA loan?

Acceptable credit history is necessary to obtain a USDA loan. USDA loans offer more flexibility than conventional financing for borrowers who have experienced prior credit issues, when they have corrected the issues and maintained acceptable payment patterns for the recent 12 months. The minimum credit score is 620, but for borrowers with a 640 or higher, USDA loans may offer expanded qualifying parameters, allowing more applicants to realize the dream of homeownership.

How do USDA loans differ from traditional loans?

USDA Rural Development offers no-money-down mortgages, whereas traditional mortgages tend to require approximately 20% down. Though you will still need to pay mortgage insurance if you do not put down at least 20%, this program is ideal for families that do not have enough money in savings for a down payment.



214 Sahara Dr
Kingston, PA 18704


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NMLS# 145188

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