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USDA/Rural Development Loans

Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for properties located in designated small towns, suburbs and exurbs. This program helps eligible low- to moderate-income families achieve homeownership by offering a no down payment option.

USDA/Rural Loan Highlights​

With flexible requirements, USDA loans feature:
  • 100% financing + required guarantee fee = 102% of the appraised value
  • Low FICO score requirements
  • Low interest rates
  • Low closing costs
  • Gift funds can be used for closing costs
  • 30-year, fixed-rate mortgage

​USDA/RURAL LOAN Eligibility

Eligibility is based on the property size, location and condition along with income and other qualifying factors. Some of these requirements include:
  • Property must be located in a USDA designated rural area
  • Maximum loan limits vary based on location
  • Household members can have a total income of up to 115% of the medial income for the area
  • Household must be able to afford the mortgage payment, including property taxes, homeowners insurance and the annual guarantee fee payable on a monthly basis

    TELL US ABOUT YOUR FINANCING NEEDS

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78370 Hwy 111 #200  La Quinta, CA 92253
   Ph: 760.660.4696
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​Mike Chapa NMLS #259004 - Email
Bidi Gonzalez NMLS #277063 - Email

Complaints may be directed to: (877) 699-0353 or by Email

​Licensed by the Department of Business Oversight under the California Finance Lenders Law. Loans made or arranged pursuant to a California Finance Lenders Law License.  FIMC NMLS #2289

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© 2018 Fairway Independent Mortgage Corporation
NMLS #259004
78370 Hwy 111 #200  La Quinta, CA 92253  760.660.4696
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  • Home
  • About Us
  • Testimonials
  • Our team
  • Loan Programs
    • Adjustable-Rate Mortgage
    • Conventional Loans
    • FHA Loans
    • Fixed-Rate Mortgage
    • Renovation Loans
    • Reverse Mortgages
    • USDA Loans
    • VA Loans
    • Officer Connection Program
    • Teacher Appreciation Program
  • Contact us
Website by BSocial Media Management