USDA Mortgage Loans

USDA RURAL HOUSING Loan

Rural Housing Loans 

A Utah USDA Rural Housing loan is a mortgage loan that is guaranteed/insured by the U.S. Department of Agriculture and available for qualified individuals who are purchasing or refinancing their Utah home loan in an area that is not considered a major metropolitan area by USDA.


Benefits of a USDA Rural Housing Loan

  • 100% Financing - you can buy a home with no money down and even finance your closing costs

  • You can refinance your home up to 100% of the value of your home

  • Low fixed rate mortgage options

  • Easier to qualify for because the government insures the loan so that there is less risk to the lender

  • They can be used for existing homes, foreclosures, or new construction

  • Simple loan process.

  • No loan limits or acreage limit

  • 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 household income requirements and is purchasing a home or refinancing their home in an area that is not considered a major metropolitan area by USDA.
 

Misconceptions of Utah Rural Housing Loans

  • They are just for farmers - This just isn't the case, it's not "just for farmers," millions of people already qualify.

  • FHA or Conventional Loans are better - In fact, USDA Loans often offer better terms than an FHA or conventional loans.

  • They aren't flexible - Actually, they 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.

  • They are only for rural areas - Actually, they are available in many areas that most people would not consider rural. For example, small communities just outside of metropolitan areas.

  • They are harder to get than FHA or Conventional Loans - This just isn't true, in many cases, they are actually easier to get because the loans are guaranteed by the government.
     

USDA Rural Housing Loans

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As a mortgage broker in Utah, we work with several mortgage lenders, enabling us to offer you a variety of Utah mortgages and refinance home loans at the best mortgage rates and lowest fees available. Working with several lenders allows us to offer more home loan options to help you achieve your goals. Whether you're buying a home or refinancing, Advanced Funding is here to help. Our mortgage loan officers are available to help you during regular business hours or a time that is more suitable to your needs. Call today for more information, 801-272-0600.

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As one of the most trusted and respected mortgage companies in Utah, Advanced Funding Home Mortgage Loans offers a variety of purchase mortgage and refinance products. Our licensed mortgage brokers are both knowledgeable and experienced to ensure you a pleasant home loan experience at the best interest rates available. We combine the use of technology, impeccable service, a dynamic management team, along with a well-trained, and experienced staff to produce results, such as great mortgage rates, low fees, and most importantly, a fast and pleasant loan experience.

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