USDA Loan Products
Financing for properties located in USDA-eligible rural areas.
- 102% maximum loan to value including financed guarantee fee
- Closing costs may be financed up to 100% of the appraised value
- Lower guarantee fees than FHA MIP
- No cash reserves required
- FICOs from 620
- No DTI qualification or ratio restriction
- Non-credit qualifying – only mortgage rating is verified.
- No appraisal needed
- Mortgage only credit report accepted
- Closing costs may be financed
- Only requires a $50 reduction in mortgage payment for net tangible benefit