USDA Loans

If you are shopping for a home in a rural part of in Louisville or throughout Kentucky or Florida, you may qualify for a special type of zero down mortgage called a USDA home loan.

This income-based loan features flexible credit requirements and affordable rates.

What is a USDA Home Loan?

A USDA mortgage is a type of loan that is guaranteed by the US Department of Agriculture.

In the past, the USDA loan program was called the “Single Family Housing Guaranteed Loan Program.”

By backing these mortgages, the US Department of Agriculture makes them less risky than comparable conventional loans.

It is that lower risk profile that makes the benefits associated with USDA home loans possible.

Benefits of USDA Mortgages in
Kentucky and Florida

If you qualify to take out a USDA mortgage, you can look forward to the following advantages:

• You can move into your new home without making a down payment.
• Your interest rates will be affordable.
• You can successfully apply for this type of loan without a perfect credit score.
• A high income is not necessary to qualify for a USDA mortgage (it would actually be prohibitive).

How to Qualify for a USDA Home Loan
in KY or FL

Following are the basic requirements if you want to apply for a USDA home loan:

• Your income must be within 115% of the median household income for your area.
• The home you want to buy must be in an area defined as rural by the USDA.

Don’t assume that the home you want to purchase is not in a rural area just because it is not surrounded by miles of farmland.

The USDA has a very generous definition for “rural,” and many homes you might think would not be acceptable actually are.

Apply for a USDA Mortgage in
Kentucky or Florida

During your consultation, we can assess your income to see if it fits within the limits for the USDA loan program.

We also can tell you whether you are shopping for a home in a rural zone.

Ready to find out if you can buy a home with affordable rates and zero down payment? To schedule your consultation, please give us a call at (502) 327-9770 in Kentucky or at (239) 766-8344 in Florida. We also can help you purchase a rural home in Indiana, Tennessee, or Colorado.