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USDA Home Loans
Are you looking for USDA home loans? MyLoanSmart.com is devoted to helping you find the best USDA mortgage. We connect with you local lenders that specialize in USDA mortgage loans. It's quick and easy to get started. Just fill out the form. There is no cost or obligation!
100% Financing
USDA home loans provide 100% financing to buy or refinance rural homes. USDA also provides 100% financing for new construction rural homes. You don’t have to be a first time buyer to qualify for USDA. The USDA home loan does not have mortgage insurance. However, there is a one-time guarantee fee payable to USDA.
Guaranteed
The USDA mortgage guarantee fee is 2% of the loan amount on purchases. When you refinance USDA mortgage loans there is .5% fee. Thankfully, the USDA guarantee fee can be financed into the loan amount. Unlike other government loans, USDA mortgage loans don’t require you to have assets.
Loan Limit
USDA mortgage loans have no maximum loan limit. Loan limits are determined by your income in respect to your ability to repay the loan. USDA also allows unlimited seller contributions! This means that the seller can contribute any amount of money towards your closing cost. USDA home loans are 30 year fixed mortgage loans with no prepay penalty.