USDA Rural Development

 Utah Area

  

The mission of the United States Department of Agriculture (USDA) Rural Development is to increase economic opportunity and improve the quality of life for all rural Americans. Rural Development has an estimated $86 billion dollar loan portfolio and administers nearly $16 billion in program loans, loan guarantees, and grants through their programs.

 

BuyUtahHomes.com has enlisted the help of SecurityNational Mortgage Co. to assist our clients in obtaining access to USDA Rural Development programs.  USDA Rural Development guarantees loans submitted only by Guaranteed Approved Lenders with an active Lender Participation Agreement.   

 

How can a USDA Rural Development Loan help me?

The USDA Rural Development Loan is a 100% loan program that doesn't require a down payment.  

 

 

What are the eligibily requirements for USDA Rural Development Loan?

1. The total adjusted annual income must be within the HUD limits that pertain to the county where the family will reside.

2. Prinicipal, Interest, Taxes and Insurance (PITI) and Total Debt ratios must meet approved guidelines.

3. Applicant must obtain a Loan Guarantee (submitted by Approved Lender).

4. Applicant must have a fair credit history.

5. Property must be in an area defined as "rural."

 

What is the interest rate for the USDA Rural Development Loan?

Typically the rate for this loan is between 3.75% - 4.75%*. To receive today's rate, please call 801-860-1003.


Can I refinance a USDA Rural Development Loan?

Yes. Rural Development has given authority that allows approved lenders to refinance existing Guaranteed Rural Housing Loans.

 

What exactly is a rural area?

A rural area often refers to smaller towns with a low population density.

How can I find out if the area I want to purchase in qualifies for USDA Rural Development Loan?

 

You can either call us directly at 801-860-1003 or complete a free application by clicking the link below.

 

 

Learn about Utah Grants on our website.

 

Looking for programs that don't require a down payment? Check out Utah Housing on our website.

Web page source: www.rurdev.usda.gov

*Rates are subject to change without notice and on approved credit. SecurityNational Mortgage Co. is an Equal Housing Lender.

BuyUtahHomes.com and Security National Mortgage Co. are providing the information on this web site for general guidance only. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.