USDA Loans

USDA Loans

A USDA Loan is a mortgage loan that is insured by the US Department of Agriculture and available to qualified individuals who are purchasing or refinancing their home loan in an area that is not considered a major metropolitan area by USDA.

Benefits of USDA Loans

  • 100% Financing – you can buy a home with no money down. In some cases you can even finance your closing costs.
  • You can refinance your home up to 100% of the value of your home.
  • Low Fixed Rate Mortgage Options.
  • They are usually easier to get because the Government insures the loan so that there is much less risk to the lender.
  • They can be used for Existing Homes, Foreclosures or New Construction.
  • Simple Loan Process.
  • No Loan Limit. No Acreage Limit.
  • There is No Prepayment Penalty.
  • You can use the loan to repair or add on to your home.
  • Flexible Credit Requirements.

Who is eligible for a USDA Loan?

Generally these loans are available to anyone who meets minimum credit guidelines and local area income requirements and is purchasing a home or refinancing their home in an area that is not considered a major metropolitan area by USDA.

Some common misconceptions of USDA Loans:

  • They are just for farmers – USDA Loans are not “just for farmers,” millions of people from all walks of life already qualify.
  • FHA or Conventional Loans are better – USDA Loans often offer better terms than an FHA or conventional loans.
  • They aren’t flexible – Actually, USDA Home Loans can be used to buy a new home or refinance to a lower rate.
  • Only certain people can qualify – Anyone who meets the income and credit guidelines can qualify for a USDA Home Loan.
  • They are only for rural areas – Actually, USDA Loans are available in many areas that most people would not consider rural. For example, many small communities just outside of metropolitan areas qualify as rural areas according to the US Department of Agriculture.
  • They are harder to get than FHA or Conventional Loans – This just isn’t true. In many cases USDA Loans are actually easier to get because the loans are guaranteed by the government.
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Getting started is easy. We offer very competitive rates, great service, local processing, and we close on time.

Licensing

Heartland Mortgage, Inc.
Co. NMLS# 3205
Bobbie Jo Haggard
NMLS# 92472
Licensed to do business in
Washington & Oregon

NMLS Consumer Access

Contact Bobbie Jo

Heartland Mortgage, Inc. - Bobbie Jo Haggard
30 S Palouse St
Walla Walla, WA 99362

Direct: (509) 301-1661
Office: (509) 529-3280- Ask for Bobbie Jo
Fax: (509) 522-1074
efax: (509) 267-1676

Hours:

MON-FRI 9AM - 5PM
Additional hours by appointment
Closed on most federal holidays.

Information contained herein is deemed accurate but not guaranteed. Programs shown do not demonstrate all options or pricing structures. Rates, terms, programs, and underwriting policies subject to change without notice. Not an offer to extend credit or commitment to lend. Loans subject to underwriting approval. Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional, and all conditions must be met borrower. Heartland Mortgage Inc. is not acting on behalf of or at the direction of HUD/FHA, VA or USDA. Loans are available in Washington and Oregon only.

Contact Heartland Mortgage, Inc. directly to learn more about its mortgage products and eligibility for such products.

Heartland Mortgage Inc. is an Equal Opportunity Mortgage Broker.