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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.

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Licensed in: FL, KY, TN, IN, CO, TX

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CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550.

THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT WWW.SML.TEXAS.GOV.

American Mortgage Solutions follows all Equal Housing laws. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

These materials are not from HUD, FHA, the USDA, or the VA. These materials were not approved by any government agency. They are independent of any government agency. We are not in any way affiliated with any organization listed or referenced within this website, including HUD/FHA/USDA/VA. The inclusion of various education, information, web links, or materials are not an endorsement of the Sender or any of its employees or business partners. For information directly from HUD/FHA, visit https://www.hud.gov/guidance For information directly from the VA, visit http://www.benefits.va.gov/HOMELOANS/ For information directly from the USDA, visit http://www.usda.gov/wps/portal/usda/usdahome?navid=GRANTS_LOANS