USDA is a powerful loan product available for individuals who have insufficient assets to place at least 20% down on a property. Think about it. That probably includes you and a pool of  millions of others.  The programs does have guidelines to hedge against lending to individuals who may be at high risk of future default.  This program is not like the 100% programs of the past that essentially would allow anyone with a heart beat to procure a property with no down payment. However, it is a great program if you are some one who has been responsible with their credit in the past. For example: paying your bills on time, no previous collections, and persons having at least a 620 median fico score or better. Not sure where you stand in terms of credit scores? CLICK HERE or give us a call and we will analyze your credit scores hassle free.

In order to take advantage of this tremendous program there are some necessary criteria. First and most important, the home must be in a USDA designated area within Texas (see link below). Secondly, your household must not exceed the income limitations (see links below). If you meet the minimal requirements,  this loan program is an extremely useful tool in getting you into a new home. Coupled with the Obama Tax Credit for homebuyers, this program is a 1-2 punch that will serve millions of Texan home owners moving forward. In today's housing market, many entities, loan programs and products continue to tighten their program restrictions, while USDA continues to draw well qualified applicants off of the fence and into new home ownership. I have had clients use this program on the purchase of a previously foreclosed property in conjunction with the Obama Tax Credit to get the deal of a lifetime on a new home for themselves.

Please contact us in regards to any Texas USDA loan request as we service USDA loans State Wide.

Click Here to view Income Limitations for your State.

Already have a property in mind? Just want to find out if it is in a USDA designated area? Click Here then click accept and type in the property address. The system will either indicate the property is Eligible/Eligible for a USDA Loan.