USDA Loans

USDA Loans


If you're a rural homebuyer looking for a USDA loan to meet your needs, the David Reitze team at Primary Residential Mortgage can't wait to work with you. It's our pleasure to help connect you with the right loan for your unique financial circumstances, and we're proud to offer a number of different USDA loans to choose from.

The first step in applying for a USDA loan is to contact our team. We'll help you determine which type of USDA loan is right for you, and we'll also help you gather the necessary documentation to apply. We'll be there with you every step of the way, so don't hesitate to reach out if you have any questions or need any assistance.

How the USDA Loan Program Works

Generally speaking, there are three categories of USDA loan program you might be considering as a rural buyer:

  • Loan guarantees: The most common format of USDA loan involves the USDA guaranteeing a mortgage provided by a private lender. This type of loan allows for low- and no-money down financing, which can be a major advantage for rural buyers who might not have the same level of savings as their urban counterparts.
  • Direct loans: You may also be eligible for a direct loan from the USDA, which would be funded directly by the government. With subsidies, interest rates can be as low as 1% here.
  • Home improvement loans or grants: For buyers who need to make repairs or improvements to their home, the USDA also offers loan programs that can help.

The first step in applying for any of these USDA loan programs is to contact our team at Primary Residential Mortgage. We'll help you determine your eligibility and gather the necessary documentation. We're here to help you every step of the way.

Greatest Need

It's important to realize heading into any USDA loan application that this agency issues mortgages largely based on greatest need. If you're a rural buyer with limited savings and few other options for securing financing, you're likely to be seen as a more attractive candidate than someone who is otherwise well-qualified but has other avenues open to them.

This focus on greatest need means that even if you don't have perfect credit or a lot of money saved up, you may still be able to qualify for a USDA loan.

Other Qualifications

In addition to demonstrating greatest need, there are other qualifications you'll need to meet in order to be eligible for a USDA loan. These include:

  • Having a credit score of 640 or higher
  • Having a debt-to-income ratio of 41% or lower
  • Meeting specific income requirements

If you're not sure whether or not you meet these qualifications, our team at Primary Residential Mortgage can help. We'll review your financial situation and let you know if you're eligible for a USDA loan.

For more on any of our USDA loan or other mortgage services, contact the David Reitze team today!

Get Started Today

*Required fields
Please Read ▼