The United States Department of Agriculture (USDA) functions as a guarantor for all USDA loans. Contrary to popular belief, USDA loans are available not just for eligible rural homebuyers, but for homebuyers in suburban areas of large cities as well. In addition, they are also made available to residents of towns where populations do not exceed 25,000.
You may benefit by looking at what USDA loans have to offer if you plan to purchase a home on the outskirts of a big city because you can find eligible areas that are within commuting distances of major metropolitan regions.
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Income limits tends to vary depending on factors such as the location of the home and the desired loan amount. Other eligibility criteria for a USDA loan include:
speak to one of our team members to get more information. They will start by determining if a USDA loan is right for you and then guide you through the application process.
Considering homeownership but not sure where to begin? The Meadowbrook Financial Mortgage Bankers Corp. guide to home buying will make the process easy all in one packet.
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