We Tell you how Understanding the USDA Home Loan Process

We Tell you how Understanding the USDA Home Loan Process

USDA home loans offer a number of benefits, which make them a popular option among many of the home buyers we work with.

They provide the option for 100% financing, flexible qualification standards, and competitive interest rates, among other advantages. As a result, they are a financing option that gives some who might not meet the qualification standards for other mortgage types the opportunity to purchase a home.

Curious about the USDA home loan process? Here’s a brief overview to help you understand what to expect if you think this might be the right mortgage option for you.

The USDA Mortgage Process

Generally speaking, the USDA home loan process follows the same basic procedure as other types of home loans. (You can find a general overview of the mortgage process here, for reference.)

Here’s what to expect from a USDA-specific mortgage process:

1. Achieve prequalification and preapproval for a USDA loan with a lender or mortgage broker

First you’ll need to find a lender or broker that you want to work with. (more…)

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