USDA MORTGAGES
Requirements for a USDA-Guaranteed home loan:
- Property must be located in a USDA-Approved rural designated area.
- Household members must have a cumulative total income that does not exceed the adjusted annual income threshold for the applicable location of the property.
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Borrowers must qualify for their current monthly liabilities and the mortgage payment, which include property taxes, homeowners insurance and the USDA annual
guarantee fee, which is required to be paid monthly.
*USDA Guaranteed Rural Housing loans subject to USDA-specific requirements and applicable state income and property limits. Fairway is not affiliated with any government agencies. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.
USDA
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Benefits of a USDA-Guarenteed Mortgage
- 30-year, fixed-rate terms.
- 100% financing + required guarantee fee.
- No down payment required.
- Credit underwriting requirements comparable to other agency underwriting requirements.
