USDA 30-Year

The (USDA) United States Department of Agriculture can provide a wonderful home purchasing opportunity for potential future homeowners who are not looking for a no down payment option. The USDA home loan programs predominantly focuses on rural development to build solid and reliable living communities. This loan primarily helps to focus on lower income and moderate income homebuyers. By providing this option, the USDA can help families and homebuyers get into homes sooner. This home loan comes with a 30 year option which provides great long term stability and flexibility.

These home loan options available for new homebuyers but they are also available to help buyers with home repair work and home improvements. With this type of loan option, a homeowner can have the necessary renovations or home repairs done, that they couldn’t afford to take on previously due to high up front costs. By choosing a 30 year USDA renovation loan, homeowners can increase their homes value, make their home more comfortable, or even provide convenient upgrades to rehabilitate the dwelling.

What are some of the benefits of going with a 30 year USDA loan?

No down payment required - Without having to provide a large up front payment, the homeowner can save their money for other needed expenses.
No Private Mortgage Insurance or lower than average mortgage insurance. Other loans tend to have this when less than 20% is put down.
Affordable and competitive interest rates. Having a low and competitive interest rate helps to keep mortgage payments low and more money in the homeowners’ pocket.
No prepayment penalty. Even with choosing a 30 year mortgage, you can always pay more or pay off the loan sooner.
Having cash reserves is not required
Predictable payment for 30 years despite any market changes
Multiple options available for new homebuyers or refinancing

When looking to qualify for a USDA 30 year home loan, several criteria must be filled. Since these loans are designed to boost rural communities, the home must be located in a qualified rural area. A rural area is generally defined as an area with a population of less than 35,000 which encompasses more than half of the United States. In this regards, you must also have U.S. citizenship or a permanent residency and looking for a single family dwelling. This could include a condo, modular home, or manufactured home. Investment properties would not qualify.

Another qualifying factor for a USDA home loan is based on credit score of the buyer and credit background. You must be able to show that you have a stable income and credit history for at least one year. This will be based on your bank statements, current employment, and any savings you may have. Your debt to income ratio will also be reviewed.

If you feel that a USDA loan is the right mortgage choice for you, then call our qualified and experienced loan officers today. Let Firehouse Mortgage get you into the home that you deserve

USDA LOANS

0% down payment
Rural counties qualify

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FIREHOUSE MORTGAGE

Firehouse Mortgage offers professional mortgage brokering services to homebuyers in Houston Texas. We strive to attain the highest level of customer service satisfaction and trust.

Conventional Loans

Terms of 15 or 30, or any year in between
Down payment as low as 3% for First Time Home Buyers
No Mortgage Insurance with 20% or more down payment
Cash out refinance options available

FHA Loans

Terms of 15 or 30 years
Down payment as low as 3.5%
Credit score as low as 580
Allows more people the opportunity for homeownership

USDA Loans

0% down payment
Rural counties qualify

VA Loans

Terms of 15 or 30 years
0% down payment
Loan amounts up to $2 million
For active duty, reservists or retired Military

Down Payment Assistance

City of Houston Assistance

Harris County Assistance

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Buying your first home? make it your dream home. We’ll work with your budget. From our community to yours, our service to the public has been our commitment. Our integrity, customer service, and professionalism has served our country, our family-values have served our community, let our commitment serve you.

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Call us today for a hassle-free consultation. We can help you find the perfect home for you and your family. Let Firehouse Mortgage handle the stress of getting your dream home, so you can enjoy it the way you deserve.

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Voice: 281.668.9622
Fax: 832.201.7077

Address

7702 FM 1960 Road E. Suite 300,
Humble, Tx. 77346

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Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the texas department of savings and mortgage lending, 2601 north lamar, suite 201, austin, texas 78705. Complaint forms and instructions may be obtained from the department’s website at www.Sml.Texas.Gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.Sml.Texas.Gov.