USDA Loans

The USDA Advantage

Advantage Mortgage’s USDA Home Loan Program provides 102% of the financing for the purchase price and guarantee fee, for low/moderate income homebuyers wanting to buy a home in a rural development area. USDA Home Loans are affordable and backed by the federal government. Qualified program participants must purchase a home in an eligible rural area (as defined by the U.S. Department of Agriculture) and have a household income that does not exceed the established limits where the home is located.

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Types of USDA Loans

• USDA Purchase Loan

• USDA Refinance Loan

• USDA Rehab Loan

• USDA Construction-to-Permanent Financing

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USDA Features & Qualification

• 2% USDA guarantee fee may be included in financing

• No down payment required

• Competitive interest rates

• Lender fees and closing costs (including prepaid funds) may be contributed by the seller or may be eligible to include in the loan, depending on the appraised value

• Gifts or grants permitted from family, friends and non-profit agencies

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Who can benefit?​

• Homebuyers looking to purchase a property in a USDA-designated rural area—including single-family homes, new construction, modular homes, and condominiums

• People without a lot of money saved for a down payment

• People with credit scores above 640

• Homebuyers with income that does not exceed the USDA’s income limits for the area

• Homeowners wanting to refinance their existing USDA loan