A USDA mortgage, offered by the United States Department of Agriculture, is a home loan program for rural and eligible suburban homebuyers with low to moderate incomes.
Rather than issue loans, the VA instead pledges to repay about a quarter of every loan it guarantees in the unlikely event the borrower defaults. That guarantee gives VA-approved lenders greater protection when lending to military borrowers and often leads to highly competitive rates and terms for qualified veterans.
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No Down Payment Required
One notable feature is the absence of a down payment requirement, making homeownership more accessible for those with limited financial resources.
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Low-Interest Rates
USDA mortgages offer competitive and low-interest rates, contributing to the affordability of the loan for qualifying individuals and families.
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Low Monthly Mortgage insurance