USDA Loans – New American Funding USDA Mortgage
A USDA loan is a home loan that is guaranteed by the United States Department of Agriculture and issued and serviced by a lender. The USDA creates distinctively favorable conditions for qualified home buyers.
Does New American Funding offer USDA loans?
Yes! New American Funding gives qualified borrowers the chance to expand their opportunities with the USDA Guarantee Rural Housing program. In order for properties to be considered eligible, they must be located in a rural area as defined by the USDA Rural Development and cannot produce income.
What benefits are associated with a USDA Loan?
- 102% USDA financing is available*
- Qualified borrowers are guaranteed a 30-year fixed rate
- There is no limit on seller contributions or gift funds- gifts may be accepted from family, friends, or non-profit organizations
- Not required to be a first time home-buyer
- Accepts self-employed incomes
- No maximum loan amount
- No reserve requirements
Contact New American Funding today using the contact form to learn more about our USDA loans.