USDA Home Loan in Oregon
If you are looking for a home in a more rural area, a USDA home loan in Oregon might be your best option. USDA home loans are loans for home buyers looking to live in smaller, rural communities. The USDA home loan has a zero down payment requirement. Scroll to learn more or APPLY TODAY with one of our mortgage lenders.
USDA Home Loan in Oregon
If you are looking for a home in a more rural area, a USDA home loan in Oregon might be your best option. USDA home loans are loans for home buyers looking to live in smaller, rural communities. The USDA home loan has a zero down payment requirement.
How Does a USDA Home Loan in Oregon Work?
There are three main types of USDA homes loans. These types are:
1. Loan Guarantees
Much like the FHA loan, this loan is a guarantee to the lender which helps your interest rate to stay low.
2. Direct Loans
This loan is for low and very low-income earners wishing to buy a home.
3. Home Improvement Loan or Grant
This USDA loan option can be an award to qualifying homeowners.
How to Qualify for a USDA Home Loan
There are many qualifications a homeowner must have in order to receive a USDA home loan. Because of that, it’s always best to contact us to ensure you qualify. Here are just a few of the requirements:
- The borrower must be a U.S. citizen
- You must have a consistent income for the past 24 months
- There can’t be any accounts in collections for the past 12 months
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