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USDA Loan Articles for Homebuyers

Acceptable USDA Loan Uses

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  • USDA foreclosed house for sale
    Buying a Foreclosed Home with a USDA Loan

    Foreclosed homes are purchased with a mortgage whose owners failed to make payments on. USDA loans provide a desirable option for buying a foreclosure.

  • House under construction financed by USDA loan
    USDA Construction Loans for New Homes

    Through the USDA’s combination construction-to-permanent loan, or single-close loan, homebuyers wishing to build a home with a USDA loan can do so. 

  • Energy efficient USDA home
    USDA Energy Efficient Homes

    Via the USDA’s Rural Energy Plus loan, homebuyers can receive $0 down financing when purchasing or building a home that meets IECC energy efficient standards.

USDA Loan Basics

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  • empty big city following social distance orders
    "Get Us Out of Here": Why American Urbanization Could Be In Trouble

    While living in the heart of a big city may have once been a dream, COVID-19 has flipped the switch on American’s desire to live in urban areas.

  • Front porch of house
    Do USDA Loans Require a Down Payment?

    One benefit of USDA loans is that qualified borrowers can get a loan for a primary residence with $0 down, and make homeownership affordable and accessible for many moderate- and low-income families.

  • person shaking hand with their lender
    5 Steps to Finding the Right USDA Lender

    Steps to finding the right USDA lender include looking for USDA Loan Expertise, Customer Service and Satisfaction, Structure of Loan Process, Comparing Rates, and Asking the Right Questions.

USDA Loan Costs and Fees

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  • Family in front of sold home
    USDA Loans and Seller Concessions

    USDA loans are a government backed mortgage option available to rural homebuyers. Despite its reputation as a product for “rural” properties, the guidelines actually permit purchases in approximately 97 percent of the United States.

  • Family in home representing insurance with a roof over their heads
    USDA Loans and Homeowners Insurance

    Homeowners insurance is a way to protect your investment in your USDA-guaranteed home from fires, natural disasters, accidents, theft, and other kinds of damage.

USDA Loan Eligibility

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  • Woman holding money in her hand that is a gift fund
    Using Gift Funds for USDA Loans

    Borrowers are able to use USDA loan gift funds for a down payment of closing costs, as long as the funds can be verified and they meet other loan program and lender requirements.

  • Row of houses
    Owning Additional Property with a USDA Loan

    Many people wonder if they can own another property and apply for a USDA loan. There are some cases where you may be able to own additional property and also obtain a USDA loan.

  • Foreclosed home
    USDA Loans after Bankruptcy or Foreclosure

    Blemishes on your credit can happen, and bankruptcy or foreclosure can be a particular concern for those hoping to buy a home with a USDA loan.

USDA Loan Process

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  • Couple holding keys to their new house
    Qualifying Income for USDA Loans

    USDA annual income, adjusted annual income, and repayment income are 3 income calculations considered in determining a borrower's USDA income eligibility.

  • person closing a usda loan
    How Long Do USDA Loans Take To Close?

    Every homebuying situation is different, but once you’re contracted to purchase, you can typically expect the USDA loan process to take anywhere from 30 to 45 days to close on your USDA loan.

  • person with keys to house after closing USDA loan
    An In-Depth Look at USDA Loan Closing Costs

    Closing costs on USDA loans generally run between 3 and 6 percent of the purchase price; however, every homebuyer's situation is different. Let’s take a closer look at USDA loan closing costs.

USDA Refinance

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