Your Key to Affordable Homeownership
USDA, a great rural housing loan option requiring 0% down payment for Lancaster County and beyond.
Why Choose USDA Loans?
Affordable Homeownership in Eligible Rural Areas
- Zero Down Payment: One of the key advantages of the USDA home loan program is that it offers eligible borrowers the opportunity to purchase a home with no down payment, making homeownership more accessible.
- Low Interest Rates: USDA loans often come with competitive interest rates, providing borrowers with cost-effective financing options compared to traditional mortgages.
- Flexible Credit Requirements: The program is designed to assist individuals with varying credit histories. USDA loans may be accessible to borrowers with lower credit scores, offering flexibility to those facing challenges in securing conventional loans.
- Rural and Suburban Eligibility: USDA loans are not limited to farmland; they cover eligible properties in rural and suburban areas. This widens the scope of available homes for potential buyers.
- Government Guarantee: The USDA guarantees a portion of the loan, reducing the risk for lenders. This guarantee encourages lenders to offer favorable terms to borrowers, contributing to the overall affordability of the loan program.
Your Path to a USDA Loan
- Check Eligibility: The first step to qualifying for a USDA home loan is to ensure that the property and the borrower meet the eligibility criteria. USDA loans are primarily intended for properties in eligible rural and suburban areas, and borrowers must meet income requirements. Utilize the USDA eligibility map and income limits to confirm eligibility.
- Meet Income Requirements: USDA loans have income limits based on the location of the property and the number of people in the household. Applicants must demonstrate that their income falls within the specified limits. It’s important to gather all relevant financial documentation, including pay stubs, tax returns, and other income-related documents.
- Submit Application: Once eligibility is confirmed and income documentation is prepared, the next step is to apply for the loan through an approved USDA lender.
The lender will evaluate the applicant’s creditworthiness, employment history, and overall financial situation. Having a good credit score and a stable income can strengthen the chances of loan approval.
Keep in mind that meeting these steps does not guarantee approval, and individual circumstances may vary. Working closely with an approved USDA lender can provide guidance and assistance throughout the application process.
The USDA Rural Development’s Section 502 Direct Loan Program is an exclusive opportunity for low- and very-low-income families in rural areas to realize affordable homeownership, making your path to a new home smooth and accessible.
Our USDA Loan Process
Partnering to Achieve Your Homeowner Dreams
Our company lives by our core values and seeks to live by them in all we do. Because of that, our loan process takes a different approach; we want to know you and your goals and objectives for the future so that we can.
We deeply analyze your financial situation and aspirations to create a personalized plan that aligns with your vision of success.
With our expert advisors by your side, you’ll gain knowledge and confidence to make informed decisions in the mortgage market.
We explore uniquely crafted opportunities to secure the best loan options for your financial success, going beyond traditional approaches.
See What Our Clients Are Saying
Let's Take the First Step Together
We are with you every step of the way. We make the process easy. Apply online at your convenience and securely upload documents for our review. We will review your application and reach out within 24-48 hours.
USDA Loans: Frequently Asked Questions
What is a USDA loan, and how is it different from a conventional mortgage?
A USDA home loan is a mortgage program backed by the United States Department of Agriculture, designed to provide affordable financing options for eligible borrowers in rural and suburban areas. It offers benefits such as zero down payment, low-interest rates, and flexible credit requirements to make homeownership more accessible.
What are the typical down payment requirements for a USDA home loan?
A typical down payment for a USDA home loan is just 0% down. But, remember, there are still loan closing costs and escrow (property taxes and homeowners insurance), talk to a member of our team to learn more.
Are there any property requirements for homes eligible for USDA loans?
For a property to be eligible for a USDA home loan, it must be located in an eligible rural or suburban area, adhere to specific size and design standards, and meet condition requirements for safety and sanitation. Borrowers can use USDA online tools to verify the property’s eligibility before applying for the loan.
Are there specific eligibility criteria for obtaining a USDA loan in Lancaster, PA?
The income eligibility for a USDA home loan is determined by the borrower’s adjusted household income. Income limits vary based on factors such as the location of the property and the number of people in the household. Potential borrowers can check the USDA’s income eligibility guidelines, which consider the median income for the area, to determine if they meet the specified limits for their household size and location. Reach out to our team to learn about your eligibility.