USDA Loans
Your Path to Rural Living
Secure Your Future Home with USDA Financing
Are you a rural resident looking to purchase your dream home? USDA loans offer a unique opportunity with competitive rates, no down payment, and a streamlined application process. Learn how these government-backed loans can help you achieve your homeownership goals.
USDA Loans
A USDA loan, also known as a Rural Housing Service loan, is a type of mortgage loan offered by the United States Department of Agriculture (USDA) to help eligible borrowers purchase homes in rural areas.
Benefits of a USDA Loan
- No Down Payment: Enjoy the flexibility of purchasing a home with zero down payment.
- Competitive Interest Rates: Secure favorable financing terms.
- No Private Mortgage Insurance (PMI): Save money each month by avoiding PMI.
- Streamlined Process: Benefit from a faster and easier application process.
- Flexible Eligibility: USDA loans are available to eligible rural residents and veterans.
USDA Loans - Q&A’s
- What is the eligibility for a USDA Loan?
- Eligibility requirements include:
- Live in a USDA-eligible area: This typically includes rural areas, but some suburban and small-town areas may qualify
- Meet income limits: Your household income must be below a certain percentage of the median income for your area
- Be a U.S. citizen or eligible non-citizen
- Use the property as your primary residence.
- Have a credit score that meets the lender's requirements
- What is the maximum loan amount for a USDA loan?
- The USDA loan limit varies by county. You can find your county's limit on the USDA website.
- Do I need a down payment for a USDA loan?
- In most cases, you do not need a down payment for a USDA loan. However, if you have a credit score below 680, you may be required to make a down payment.
- Can I use a USDA loan to refinance my existing mortgage?
- Yes, you can use a USDA loan to refinance your existing mortgage.
- How do I apply for a USDA loan?
- Contact a USDA-approved lender, such as Texas Lending Solutions, to start the application process.
Why Choose Texas Lending Solutions?
At Texas Lending Solutions, we pride ourselves on offering a seamless mortgage process with expert guidance at every step. Our team of dedicated professionals will work with you to find the best loan option, ensuring you get the keys to your new home with confidence.
Why Choose Texas Lending Solutions?
- Personalized Service: We take the time to understand your unique financial situation, so we can recommend the best mortgage options for your needs.
- Quick and Easy Approvals: Our streamlined process ensures a fast approval, so you can move forward with your home purchase without delays.
- Local Expertise: As a Texas-based lender, we know the local market and can provide insights that national lenders can’t match.
Ready to explore your options? Contact Texas Lending Solutions today to learn more about our conventional loan programs and take the first step toward owning your Texas home.
Building Trust, One Loan at a Time
Shella was nothing short of amazing! Each and every employee at Texas Lending Solutions went above and beyond for the entire loan process! We looked at the home on March 2nd and we closed on March 28th! We hadn’t even been pre-approved or anything. How’s that for a fast turn around? Any questions we had, their staff didn’t hesitate to respond to, or find someone who could. What an awesome home buying experience!
MEAGHAN B.
Dallas
Paul reached out to me when the rates were really low. We had spoken a few years ago when I bought this home with a 30-year mortgage. He found a way I could get a new 20-year mortgage which effectively eliminated 8 years of payments! Paul is a professional who knows his stuff. His team are thoughtful and amazing. I highly suggest using Texas Lending Solutions for your new home or refinancing needs.
JENNIFER H.
Houston
I am a first-time home buyer and was very unsure of how the process of buying a house would be but Jimmy is very knowledgeable and answered any questions I had. He is very kind and understanding which gave me confidence in buying a house. I am so lucky that I was able to work with Jimmy and I highly recommend him thank you so much, Jimmy for giving me a great experience.
MARISELA H
Austin
Ready to Get Started?
Our team of mortgage experts is here to guide you through the pre-approval process and answer any questions you may have. Contact us today to schedule a consultation and take the next step towards owning your dream home.