- enrightm@casonhl.com
- 647 E Main St Lancaster, OH 43130
Free Consultation
(614) 915-5450
Rural Development Loans (USDA)
About Rural Development Loans (USDA)
What are Rural Development Loans (USDA)?
Rural Development loans are offered in rural areas as determined by the United States Department of Agriculture (USDA). The USDA’s mission is to help lower-income households obtain home loans at reasonable mortgage rates. USDA home loans offer many advantages to qualified borrowers.
USDA mortgage loans allow for purchase and no cash-out refinances of primary residences. Some benefits of USDA are:
• 100% financing
• No asset or automatic reserve requirements
• Gifts allowed for closing costs
• Eligible USDA property types include single-family homes and condominiums. USDA does have some income and property eligibility requirements.
Even though a mortgage insurance premium is not required, USDA charges a 2.75% Guarantee fee to guarantee the mortgage. This fee may be financed into the loan amount.
- Great Option For
- Borrower who plans to occupy a home located in an eligible rural area as their primary residence
- Sufficient income verification
- Credit history that indicates an ability and willingness to meet repayment obligations
- Borrower(s) Qualifications
- No down payment required
- Competitive 30 year fixed interest rates flexible credit guidelines no maximum purchase price
Matthew Enright
(614) 915-5450 | enrightm@casonhl.com
Contact Matt Enright to Get Started on Your Rural Development Loan
Lets Start the Conversation
Matthew Enright (NMLS# 1534960) is your senior loan officer with Cason Home Loans. As a Columbus Ohio mortgage loan advisor, Matthew Enright can help you achieve your vision for your future home!
iapproveohio.com consists of a group of licensed mortgage advisor’s employed by Mortgage300 Corporation NMLS# 162651. The company’s licenses can be viewed here: Licensing (link to https://www.casonhomeloans.com/licensing/). The company’s website is here: https://www.casonhomeloans.com.
Contact
- 647 E Main St Lancaster, OH 43130
- enrightm@casonhl.com
- (614) 915-5450
- Mon - Fri : 8am - 8pm
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