USDA Home

Don't be a tenant anymore when HMA is with you !

What is a USDA Home Loans?

USDA loans are backed by the U.S. Department of Agriculture (USDA) and also offered by private lenders like HMA . Refinancing a mortgage replaces an existing loan with a new loan that pays off the debt of the old loan is simply USDA type.

They offer competitive interest rates, low down payments, low mortgage guarantee fees, and easier refinancing with the streamline program.

  • Competitive interest rates
  • Minimum credit score often 640
  • homebuyers
  • No down payments for many
  • No loan limits
  • Low mortgage guarantee fees

Is USDA Homes right for you?

You might qualify for a USDA loan if you have an average salary for your area and a credit score of 640 or higher.

USDA loans can be used to buy a home only in a rural or suburban area. Typically, qualifying areas have a population under 20,000.

If your mortgage payments are too high for your current earnings, you have the ability to lengthen your mortgage and reduce your monthly payments substantially.

If you are struggling with other debt (like credit card debt), it can allow you to pay off other higher-interest loans with the equity you have invested into your mortgage.

An acceptable credit history, with no accounts converted to collections within the last 12 months, among other criteria.

If a person is unable to secure a home loan from traditional sources.

Benefits

  • 1.No down payment option (100% financing)**
  • 2.No cash reserves required Flexible credit and qualifying guideline
  • 3.Seller can pay closing costs
  • 4.Low fixed interest rate
  • 5. No pre-payment penalty
  • 6.Ability to finance repairs and closing costs into loan
  • 7. Good for purchase or refinance
  • 8.You can build a home with the loan

What’s Next?

After you purchase your home and get your loan, you may think that everything is up to you to manage. But with the Home Mortagage Associates, you will continue to be supported and educated on how to manage your mortgage about your credit score, your finances and income. The Mortgages Under Management is a program that will guide you after getting the keys to your home. We offer quarterly updates and annual mortgage planning reviews for any changes in your life situations. Our goal is to make sure our clients have expert guidance at all times with have a perfect mortgage. Contact Home Mortagage Associates today to learn more about the ‘Mortgages under management’ program.

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USDA Home

A FHA Loan is insured by the Federal Housing Administration. This is an attractive housing loan option for many first-time home

Find More USDA Loan
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