USDA Financing : $100,000 Minimum Loan Amount Required
Click Here to View our recorded USDA Webinar
What we can do for you that no other lender can: Go ahead and compare.
Do you and your property qualify? Follow these simple steps to determine if you qualify for USDA financing:
Step 1: Know your credit: Minimum 640 FICO requirement. USDA financing requires a minimum of Fair credit. If your credit is good, you probably have this score or higher. Not sure what your credit score is? Get your free credit report once a year here. No membership is required, small charge for scores. www.annualcreditreport.com
How to rate your credit? If your credit scores are:
· 720 - 850: Excellent
· 680 - 719: Good
· 640 - 679: Fair
· 450 - 639: Unaccpetable - We are unable to fund loans in this credit score range
If you know you have Fair credit or better, you can skip Step 1. If you have had credit problems in the past and are unsure of what your credit scores are currently, you should confirm them prior to moving on to step 2.
Step 2: Household income restrictions: USDA limits the amount a single/married couple can earn. To determine if you are under the maximum income limits visit the USDA Income Eligibility website here. http://www.rurdev.usda.gov/HSF-Guar_Income_Limits.html
Step 3: Property location restrictions: USDA financing is restricted to properties in designated rural areas. To determine if the property you want to purchase is in a designated rural area go to the USDA web page. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11
Final Step: Prequalify, Get your loan: Once you have passed all the main restrictions in steps 1-3 of USDA financing, complete our online form here or call us. We will then complete the prequalification with you and issue you a preliminary prequalification letter that you can provide to a real estate agent to show you are qualified to purchase the home you want. Once your offer is accepted, we will then complete the loan to funding.
Ready for a USDA Loan?: Call us at 888-466-3970
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