USDA loans, or United States Department of Agriculture loans, are government-backed mortgage programs designed to promote homeownership in rural and suburban areas. These loans offer affordable financing opportunities for low-to-moderate income families who may not qualify for traditional mortgage options. By providing 100% financing, USDA loans eliminate the need for a down payment, making homeownership more accessible for those who meet the eligibility requirements.
Key features of USDA loans include competitive interest rates, flexible credit requirements, and the option to finance closing costs. To qualify for a USDA loan, borrowers must meet specific income guidelines and purchase a property located in a designated rural or suburban area. The USDA offers two primary loan programs: the Guaranteed Loan Program, which is administered by approved lenders, and the Direct Loan Program, which is directly funded by the USDA. Both programs aim to enhance the quality of life in rural communities and stimulate economic growth through homeownership.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 2379616
www.nmlsconsumeraccess.org
2040 County Line Road
Huntingdon Valley, PA 19006
Phone: 215-671-0404
brendanjbarry@haverfordmortgagecompany.com
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