USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

How do You Pre-Qualify For a USDA Loan in Texas?

The USDA Guaranteed Home Loan Program in Texas is backed by the USDA – the United States Department of Agriculture.

It is a TRUE no money down home loan.

Many people who take advantage of this USDA Loan program in Texas are able to get into their homes with little to no money out of their pocket.

BUT, there are several USDA Home Loan eligibility requirements that you need to meet in order to take advantage of this home loan program.

The first USDA Loan requirement is that you cannot be a current homeowner.

If you already own your home but are planning to sell it, then you are still eligible! You just need to have your existing home sold BEFORE we can close the loan for your new home in Texas.

The next requirement is that your total annual household income cannot exceed the limits set by the USDA. Finding USDA Loan Texas isn’t as hard as it seems with a certified Mortgage and Loan Officer at your disposal.

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These income limits are based on market area and family size.

Another requirement is that you cannot have defaulted on a USDA loan in the past.

This means that if you’ve had a past USDA loan that has gone in to foreclosure, you unfortunately aren’t eligible.

To take advantage of this program, the home has to be located in an eligible rural area.

But guess what, rural does not necessarily equal country! Homes do not have to be in a country setting.

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In fact, there are many areas where entire counties and cities qualify for this program.

The property has to meet minimum property standards.

The home must be in satisfactory condition, and this loan cannot be used to finance any sort of income producing property.

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That means mini farms, and properties with farm acreage are not eligible.

Do you want to find out if you qualify for a USDA Loan in Texas? We make it EASY! Just give us a call at USDA Loan Info (888) 464-8732.

We’re here to make your dreams of homeownership come true.

In 2019, What Do You Need for a USDA Loan in Texas?

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>>> IT IS FREEDOM FOR SPREADING TODAY WE ARE GETTING DETAILS ON USDA LOANS.

AND AS A MORE AND MORTGAGE LOAN REPRESENTATIVE AT FREEDOM FIRST JOINS US TO TELL US MORE.

WELCOM >> THANK YOU FOR HAVING ME.

>> THERE ARE A LOT OF LOANS OUT THERE SO LET'S TALK ABOUT THE USDA LOAN.

WHAT IS THAT? >> USDA LOAN IS A GREAT OPTION.

IT OFFERS PEOPLE 100 PERCENT FINANCING, MEANING NO DOWN PAYMENT.

THE MORTGAGE INSURANCE WITHIN THE MONTHLY PAYMENT IS VERY AFFORDABLE COMPARED TO OTHER LOAN PROGRAMS.

YOU DO NOT NEED TO BE A FIRST-TIME HOMEBUYER TO TAKE ADVANTAGE OF THAT PROGRAM.

IT IS DESIGNED FOR PROPERTY SPECIFIC LIKE ONLY IN RURAL AREAS.

>> OH OKAYSO THAT IS GOOD ENOUGH.

PEOPLE ARE BUYING IN THE CITY , NOT NECESSARILY WOULD USE A SPORTS BOOK THAT IS WHY YOU WILL WANT TO GIVE US A CALL AND LET US KNOW WHAT PROPERTY YOU ARE INTERESTED IN AND THEY WOULD SEE IF THAT PIECE IS IN THE USDA ELIGIBLE AREA.

>> AND WHY WAS THIS CREATED ? TO ENCOURAGE PEOPLE TO LIVE IN MORE RURAL AREAS? >> HOMEOWNERSHIP DESIGNED FOR CERTAIN INCOME AREAS LIKE MODERATE TO LOW INCOME HOUSEHOLDS.

TWO IN ONE HOMEOWNERSHIP IN THE RURAL AREAS.

>> LET'S TALK MORE ABOUT THE FEATURES OF A USDA LOAN.

WHAT CAN WE EXPECT?>> I TOUCHED ON THAT A LITTLE BIT AS FAR AS NO DOWN PAYMENT.

AND IT IS DESIGNED TO HELP PEOPLE OBTAIN HOMEOWNERSHISO THAT NO DOWN PAYMENT, LOW MORTGAGE INSURANCE.

THOSE ARE THE BEST FEATURES FOR PEOPLE THAT DON'T HAVE A DOWN PAYMENT TO WORK WITH.

>> AND THEIR ARE A LOT OF PEOPLE TAKING ADVANTAGE OF THE USDA LOANS WERE NOW? >> THERE ARE.

WE GET A LOT OF INQUIRIES.

THE BIG PART IS MAKING SURE THE PROPERTY IS IN A USDA ELIGIBLE AREA SO WE CAN HELP WITH THAT.

>> HOW DO YOU KNOW? >> YOU ENTER A PROPERTY ADDRESS INTO THE USDA WEBSITE AND IT TELLS YOU IF IT IS IN A USDA ELIGIBLE AREA.

VERY EASY TODAY.

>> SO ANYBODY COULD DO IT? SO IF I'M SITTING AT HOME AND MY COMPUTER, WHAT DO I HAVE TO DO? >> I WOULD LOOK UP USDA PROPERTY ELIGIBILITY AND IT WILL TAKE YOU TO THAT WEBPAGE WITHIN THE WEBSITE AND THEN YOU ENTER IN A PROPERTY ADDRESS AND HIT ENTER AND IT TELLS YOU IF IT IS IN AN AND ELIGIBLE AREA.

>> THAT IS NICE.

>> ANOTHER PIECE OF THAT TO IS -- KINDA TOUCHING ON THE HOUSEHOLD INCOME LIMITS , MOST OF THE COUNTIES IN OUR AREA DO HAVE HOUSEHOLD INCOME LIMITS OF 78,000 200 MEANING ALL ADULT INCOME EARNERS , THEIR TOTAL INCOME HAS TO BE WITHIN THAT RANGE.

>> IN THE HOUSE.

SO CONSIDER THAT.

>> THAT CAN BE A CHALLENGE SOMETIMES.

>> BUT THAT IS NICE YOU DON'T WANT TO PUT DOWN PAYMENT ON A HOUSE OR ANYTHING LIKE THAT.

SO IT CAN BE A LITTLE CONFUSING I'M SURE.

DO YOU ENCOURAGE PEOPLE TO CALL YOU?>> YES.

CALL US AT 540890224 AND GET IN TOUCH WITH ONE OF OUR MORTGAGE LOAN ORIGINATORS.

AND THENIF THE BUYER DOESN'T FIT INTO THE USDA PROGRAM, WE HAVE MANY OTHER OPTIONS TO LOOK AT.

WE WILL SEE WHAT ELSE WORKS FOR THEM.

>> SO DON'T BE DISCOURAGED.

THERE ARE OTHER LOANS OUT THERE AND I AM SURE YOU CAN FIND SOMEBODY WHAT THEY ARE LOOKING FOR AND GET THEM IN A HOME.

>> THAT IS WHAT WE ARE HERE FOR.

>> WAS TOP OF THE PERMISSION FOR MORE INFORMATION.

IT IS FREEDOM FIRST.

THERE YOU GO.

The 7 Low-Down Payment Loans For Home Buyers - Today's Mortgage and Real Estate News

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- Hey guys, Austin Schneider here.

And today we're going togive you the pros and cons of an FHA loan.

Pro number one of an FHA loan is that you only need 3.

5%down for down payment.

And, there's even optionsfor as low as 0% down.

Con number one is that the mortgage insurance is not cancelable.

You'll need to account that into your monthly costs for the lifetime of this type of loan.

Pro number two is that the interest rates are typically very competitive and lower than your standard,conventional type of loan.

Con number two is that many condos are not FHA approved, so you'll likely need to be searching for a single-family house to purchase.

Pro number three.

If your credit score isnot amazing or stellar, they're usually pretty flexible and pretty lenient on grantingyou this type of loan.

Con number three is that thehome that you're purchasing needs to be owner occupied.

It cannot be an investment property or something that you plan to rent out.

All right guys for more on a FHA loan, visit the TheMortgageReports.

Com.

Thanks so much for watching.

We'll see you in the next one.

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