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USDA Loans

A USDA Loan is a government-backed mortgage designed for individuals buying or refinancing homes in rural or suburban areas. These loans offer 100% financing, meaning no down payment is required, and they include benefits like low fixed rates, no prepayment penalties, and flexible credit requirements. USDA Loans can be used for existing homes, new construction, or even refinancing up to 100% of the home’s value. They are accessible to many who meet income and credit guidelines, with no loan or acreage limits, making them an excellent option for eligible buyers.

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Key Benefits of USDA Loans

  • 100% Financing: Buy a home with no down payment, and in some cases, finance closing costs.
  • Flexible Uses: Can be used for new homes, foreclosures, refinancing, and even home repairs or additions.
  • No Prepayment Penalty: Pay off the loan early without extra fees.
  • Low Fixed Rates: Enjoy predictable, affordable mortgage payments.
  • Easier Qualification: With the USDA backing the loan, lenders face less risk, making approval easier.

Common Misconceptions

  • Not Just for Farmers: USDA Loans are available to anyone in qualifying rural or suburban areas, not just farmers.
  • Better than FHA or Conventional Loans: USDA Loans often have better terms, including lower rates and no down payment.
  • Available in Many Areas: Homes in many suburban areas near major cities can qualify as rural under USDA guidelines.
  • Easy to Qualify: USDA Loans can be easier to obtain due to government backing, similar to FHA loans.

Eligibility Requirements

USDA Loans are available to those who meet specific credit, income, and location guidelines. The property must be located in a USDA-designated area, typically outside major metropolitan regions.

For more information or to see if you qualify, contact us today or fill out our online application.

_These materials are not from HUD or FHA and were not approved by HUD or a government agency._

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## Duane Buziak Mortgage Maestro

3302 Haydenpark Lane
Henrico, VA 23233

804-212-8663

NMLS: #1110647

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Coast2Coast Mortgage, LLC NMLS: 376205 / Duane Buziak NMLS#1110647 / NMLS Consumer Access / Legal Disclaimer – This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Other limitations may apply. This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the state of New York will be accepted through this site.

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