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USDA Loan

down payment options

Thinking about buying a home?

Buy a home with 0% down and 100% financing

If you are buying a home that is in a USDA eligible location and make an average income or less you could qualify for a USDA loanSearch USDA eligible properties.

USDA Loans are less expensive than FHA loans because mortgage insurance (MIP) is a half a percent cheaper.

Low and Very Low-Income Homebuyers
Homebuyers Direct Loans
• Offered directly by USDA
• 33-year fixed interest rate (typical term)
• Applicant’s income must be below local low- or very low-income limits determined by USDA
• Payment assistance may be available

Moderate-Income Homebuyers
Guaranteed Loans
• Offered by lenders such as banks, and guaranteed by USDA
• 30-year fixed interest rate
• Applicant’s income must be below local moderate-income limits determined by USDA

USDA Income Limits

Below are the Adjusted Income Limits for the Washington-Arlington-Alexandria, MD Metro:

Direct Loans
1 – 4 person5 – 8 person
VERY LOW INCOME 38,10050,300
LOW INCOME60,95080,450
MODERATE INCOME102,350135,100
38 YEAR TERM47,30062,450
Single Family Housing Direct Loan
Guaranteed Loans
1 – 4 person5 – 8 person
VERY LOW INCOME 64,50085,150
LOW INCOME79,900105,450
MODERATE INCOME114,850151,600
Single Family Housing Guaranteed Loan

USDA Tradelines

For a USDA Loan, you must have a minimum of 2 tradelines with a 12 month history. Tradelines can be open, closed, and/or paid in full. Eligible tradelines can include but are not limited to: secured and unsecured loans, revolving accounts, installment loans, credit cards, collections, and charge off accounts.

USDA loans, USDA Loan credit

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