Are you looking to purchase a home in a rural community, but wondering where to begin looking for help with a home mortgage? Good news! The U.S. Dept. of Agriculture (USDA) has developed a home loan guaranty program that can help you find a lender and obtain a home loan mortgage. The USDA HUD Rural program offers loans with little or no money down!

A USDA Rural Development home loan may offer qualified borrowers a chance to obtain a home loan with easier qualifications and financing options than other conventional loans. Keep in mind that the USDA Rural Development does not fund the mortgage loans. Rather, the program has partnered with selected lenders and Mortgage Bankers, such as my company ENG Lending, who will loan the money with a repayment guaranty from the USDA, if ever the loan should default. This offers lenders confidence in providing loans to qualified candidates who meet the USDA Rural Development underwriting guidelines.

We are an FDIC insured Bank, we can Lend in all 50 States!

USDA loan benefits

ZERO Down Payment Required. Borrowers who qualify for a USDA HUD Rural home loan have the flexibility to pay nothing out of pocket for a down payment. That means a borrower can finance up to 100% of the appraised home value. Or, a borrower can have a gift or grant go toward a down payment with no money out of pocket.

NO MONTHLY MORTGAGE INSURANCE payments. Unlike an FHA Home Loan, a USDA HUD Rural Loan does not require expensive mortgage insurance premiums to be paid by the borrower. That means more money can go toward the mortgage payment each month.

Competitive 30 year fixed interest rates. We can offer you the lowest interest rates to qualified individuals and families.

Flexible credit guidelines. Borrowers must still provide a credit history report. But the flexible guidelines allow potential homeowners with spotty or challenged credit to still qualify for a home loan.
No maximum purchase limit. The USDA Rural Development program has no maximum purchase price limit. However, a lender will still determine the maximum amount of loan each applicant is eligible for based on ability to repay.

Home repairs can be included in loan. Looking to purchase a "handyman special" home? Homes that need refurbishing or rehabilitation may qualify for extra funds to be included in the home loan mortgage to go toward repair costs.

Who is eligible?

Any individual or family who plans to occupy a home located in an eligible rural area as their primary residence may qualify for a USDA Rural Development home loan. An applicant for the USDA mortgage guaranty loan must provide sufficient income verification and a credit history that indicates an ability and willingness to meet repayment obligations. An individual or family must show proper legal capacity to own property in the U.S.A., own no home or dwelling currently, and have insufficient resources to qualify for a conventional home mortgage.

How to get started

Interested future homeowners should contact Travis Newton, Oregon USDA Expert at 503.931.4490. and/or tnewton@englending.com