Tagged in: Loan

What Is a USDA Loan?

If you are thinking of buying a home and applying for a mortgage, chances are you have heard of several types of loans. It’s usually best to work directly with a lender to figure out what sort of mortgage is best for your situation. Here is an overview of a USDA loan, which is a government-backed loan that may be a good option for you if you meet the requirements.

Loan Benefits

One of the biggest advantages of a United States Department of Agriculture loan is that it doesn’t require borrowers to have a down payment. This type of loan may be an option for buyers who can’t meet the down payment requirements for a conventional loan. An experienced lender, such as Sun West Mortgage, can provide detailed information on the potential benefits of a USDA loan. 

Type of Property

To qualify for this type of loan, the property …