If you’re interested in living in a rural area in or around Allen, Texas, our mortgage team at Supreme Lending can help you look into USDA loan options.
The USDA loan program is designed to benefit low- to moderate-income homebuyers who want to live in rural areas. Homebuyers whose income exceeds a pre-determined threshold are not eligible for USDA loans. USDA loans typically have more flexible credit score requirements as well.
USDA loans require no down payment, which is a huge benefit to those who may not have money saved for this purpose. Interest rates on USDA loans are usually comparable to other loan programs.
USDA loans are available to purchase qualifying properties as well as to repair or move qualifying properties. With a USDA loan, the property you want to buy or fix up must meet certain livability standards as well.
To find out more about qualifying and applying for a USDA home loan in Allen, Texas, talk to our mortgage professionals at Supreme Lending.