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Laredo USDA Home Loans

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Laredo USDA Mortgage Lender

USDA Loans In Laredo & Surrounding Areas

A USDA home loan is a no-money-down mortgage for qualified rural homebuyers. The USDA loan program, commonly known as the USDA Rural Development Guaranteed Housing Loan Program, is administered by the United States Department of Agriculture. The USDA home loan program primarily intends to assist low-income people living in unhealthy or unsafe rural areas in obtaining a home with modern utilities and appropriate space.

There are two types of USDA Home Loans, Direct and Guaranteed. Both programs provide qualified borrowers with 100% financing for a home.

USDA Direct Home Loan

Direct USDA loans are provided directly by the USDA. They are intended for extremely low- and low-income borrowers who cannot obtain an affordable mortgage from other sources and do not have adequate, safe, hygienic housing.

This program, also known as the Section 502 Direct Loan Program, aid low- and extremely low-income applicants in obtaining good, safe, and sanitary housing in suitable rural areas by providing payment assistance to boost an applicant’s repayment ability. Payment assistance is a sort of subsidy that temporarily lowers mortgage payments. The adjusted household income calculates the aid amount.

Borrowers may avail of the Direct Home Loan program by applying directly to the USDA regional office near them.

USDA Guaranteed Home Loan

The USDA will guarantee 90% of the mortgage amount for qualifying borrowers who get a mortgage from a bank or other commercial lender. This makes it possible for many individuals to be eligible for a 30-year, fixed-rate mortgage with no down payment. 

The Section 502 Guaranteed Loan Program helps approved lenders enable low- and moderate-income households in qualifying rural areas to possess adequate, modest, decent, safe, and sanitary houses as their principal residence. Appropriate candidates may use 100% financing to buy, build, remodel, improve, or relocate a home in an eligible rural region.

Requirements for Guaranteed Home Loan

To be eligible for the USDA Guaranteed Home Loan program, applicants must use the property as a primary residence. Other requirements include:

  • U.S. nationality (or permanent residency);
  • Household income must not exceed 115% of the area median income or AMI;
  • A stable, verifiable income in the last two years;
  • A good credit history, including no accounts that have been sent to collections in the previous 12 months. If you can show that something temporary or out of your control, like a medical emergency, hurt your credit, you may still be able to qualify.
  •  Borrowers with a 640 credit score get streamlined processing. Those with lower scores must meet stricter underwriting requirements;
  • Those without a credit score or limited credit history may qualify by providing “nontraditional” credit references, such as rental and utility payment records.

Apply for Laredo USDA Home Loan

Capital Home Mortgage is a USDA lender approved in Texas and will take care of the loan application process. To get started on your USDA-guaranteed home loan, call one of our home loan experts at (956) 307-3422 or fill out an online application.

Why Laredo is Choosing Capital Home Mortgage...

Close On Time with True Approval

Control of the Loan from the Application to Funding.

Great Laredo Rates

Direct Mortgage Lender Providing Competitive Rates and Low Fees.

Laredo Customer Service

7  Day a Week Support from Application to Final Mortgage Payment. 

Laredo USDA Mortgage Rates

Have you ever wondered why interests rates are what they are and what determines the final rate?  Why borrowers receive different interest rates? Or why rates go up and down?  Interest Rates are calculated using several factors.

  • Demand for the mortgage Securities
  • Property securing the mortgage
  • occupancy of the property
  • Loan to value of the property
  • Borrower’s credit worthiness

Benefits of a Laredo USDA Loan

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Guaranteed by US Depart of Agriculture
  • Rural Properties Only
  • 100% Financing
  • No Restrictions on Seller Concessions
  • Low Monthly Mortgage Insurance
  • Acreage Up to 30% of Total Value
  • FHA/USDA Certified Appraisers only
  • Guarantee Fee May be Rolled In
  • New Manufactured Home Only
Home Purchase
Save Today
Have Questions?
USDA Home Home Lender

USDA Loans are a great option for families wanting to live outside of the city.  Call today to speak with a loan officer to discuss your personal loan options.

  • Guaranteed by US Depart of Agriculture
  • Rural Properties Only
  • 100% Financing
  • No Restrictions on Seller Concessions
  • Low Monthly Mortgage Insurance
  • Acreage Up to 30% of Total Value
  • FHA/USDA Certified Appraisers only
  • Guarantee Fee May be Rolled In
  • New Manufactured Home Only

Not Sure? Take a Look at Other Laredo Mortgage Programs

Laredo Mortgage Team

Conor Hayhurst

Manager
NMLS 743506

Damon Embler

Sr Loan Officer
NMLS 882260

chris erwin

Sr Loan Officer
NMLS 914064

Dale Gremillion

Manager
NMLS 210325

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