USDA Mortgages in Sacramento and Roseville
Did you know that if you are shopping for a home in rural California, you might quality for a flexible, affordable, income-based loan backed by the USDA?
What is a USDA Loan?
A USDA mortgage is a loan guaranteed by the US Department of Agriculture. It is formally called the “Single Family Housing Guaranteed Loan Program.”
The USDA insures these loans to promote the growth of rural communities that foster quality of life in those regions.
By guaranteeing your loan, the USDA assumes risk for lenders, which is what enables lenders to offer excellent benefits to those who qualify for this type of mortgage.
Benefits of USDA Mortgages in California
USDA loans come with these advantages:
- Easy qualification. You can earn low or moderate income and be eligible for this type of mortgage. Your credit score does not need to be perfect.
- USDA loans have affordable rates.
- You can move into a home in a rural area with zero down.
California USDA Loan Eligibility
Who qualifies for a USDA home loan?
- You can only purchase a home with a USDA rural loan if it is located in a “rural” area. You will need to check if the USDA deems the area where you are shopping for a home as “rural.” That is something we can help you with during your consultation.
- There are county income limits. Each county is different.
- There are some additional requirements to qualify for a USDA loan which we can go over with you in detail.
Apply Today for a USDA Rural Loan in California
Are you ready to move into a rural home with zero down? Steelman Mortgages can connect you with a USDA rural housing loan if you are in Roseville, Sacramento, Placer and El Dorado counties, or elsewhere in California. Please give us a call today at (916) 847-7263 to find out if you qualify.