USDA Loans

USDA loans

These are home loans that are guaranteed by the United States Department of Agriculture. They are designed to help low- to moderate-income borrowers in rural areas purchase homes. USDA loans offer several benefits such as no down payment, low interest rates, and flexible credit requirements.

Here are some points to consider when a USDA loan makes sense:

Eligibility: USDA loans are available to low- to moderate-income borrowers who are looking to purchase a home in a rural area. The USDA defines a rural area as any area that is not part of a metropolitan area and has a population of less than 35,000 people.

No down payment: USDA loans do not require a down payment, making them an attractive option for borrowers who cannot afford a large down payment.

Low interest rates: USDA loans offer competitive interest rates, which can help you save money over the life of your loan.

Flexible credit requirements: USDA loans have more flexible credit requirements than conventional loans. Borrowers with a credit score of at least 640 may be eligible for a USDA loan.

No private mortgage insurance (PMI): USDA loans do not require private mortgage insurance (PMI), which can save you thousands of dollars over the life of your loan

REALTORS: How We Help You

Connect with us today to learn more about how Upstream Mortgage not only saves your clients money by going upstream to the wholesale mortgage channels, but also how we strengthen your chances of getting your offers accepted. With our fully underwritten pre-approvals, low closing cost strategies and track record with listing agents, we consistently help our clients win in multiple offers situations.

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