USDA Program Benefits

The USDA home loan is a fantastic loan program that has been around for decades helping those with lower income to accomplish the American dream of home ownership.   Whether you are a 800 credit score of a 650 credit score, this loan is made available to all qualified applicants.  The main idea behind the USDA home loan is to help develop rural communities but that is not all.  The special thing about the USDA home loan is its 100% financed, meaning you do not have to make a down payment on your home!  Combined with the 6% seller concessions (money from the seller to help pay for the buyers closing costs) you can potentially get into a new home with ZERO money out of pocket.  This home loan is fantastic for those who have recently graduated (with very little money saved) or for individuals going through a tough stretch in their lives looking for a new start.  A brief run down on qualifications and eligibility for the loan:  homes need to be single family in size, stick built (no manufactured homes or mobile homes) and move in ready.  As far as qualifying as an individual, that is quite simple too.  All you need to do is go to and fill out some quick and easy information or you can call one of our agents who will be more than happy to help walk you through the pre-approval process step by step.   Let us help get you home! Society MortgageJ

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USDA Structure & Property Requirements

When looking into a home purchase the USDA Home loan program is a great option as it is intended to help individuals get into a home without having to put a down payment on the property.   However, the USDA program has a lot of guidelines that have to be met for qualifying purposes that may differ from the traditional mortgage programs available.  Having a clear understanding of the specific requirements will make the process of purchasing much easier for any buyer.


A common subject area that potential buyers are not aware of is the structural and property requirements within this program.


The following is what is deemed eligible for the USDA program with regards to the type of structure and property being sought…

  • Move in ready at the time of purchase
    • Structural integrity
    • Running water and electricity
  • Single family in size
  • Stick built
  • On a foundation
  • A maximum of 10 acres of land with the property ( no limits starting 9/1/2014 )
  • No potential income producing assets on the property
  • Must be the primary residence of any individual purchasing the home
  • Home must be located in a “rural” area as outlined by the USDA


Having a better understanding of these requirements will make the process of starting to look into homes much easier and will help a potential buyer streamline the time spent locating eligible homes much shorter.


If the USDA home program is of interest to you and the properties you are interested in would meet these requirements please let us know what Society Mortgagempany can do for you!




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It’s Hard to Find Good Advice

When you are faced with the opportunity to purchase a home, it’s very common to have a lot of questions. You can research endless websites, go to the library or ask friends or family member who may have gone through the same process in prior years.  With the mortgage industry constantly changing, and with all the different types of loans you may qualify for (such as conventional, FHA, VA or USDA loans ) my suggestion is to contact a reputable company, as Society Mortgagempany. Not only will you have the opportunity to talk with a licensed Loan Officer who understand all the different programs and by just a few questions answered, he or she can pre-qualify you for a loan that best fits your needs.


Another great asset that is offered through Society Mortgagempany are “short films”. They may seem simple, but very useful. See attached clip. Viewing this will not only give you a better idea of what you are about to experience, but it will most likely put your mind at ease. You will KNOW that you are being taken care of, when financing your loan with a Loan Officer from Society Mortgagempany.

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USDA 101

USDA is a loan program that serves a fraction of the U.S. housing market and most banks don’t offer this program. However, many rural and suburban home buyers can use this program. The full name of the program is USDA Rural Development Guaranteed Housing Program. It is known to most as “USDA loans” or “Section 502”. If your lender does not offer USDA mortgages, the U.S. Department of Agriculture’s website can be accessed to obtain a list of lenders in the Rural Housing Program. The USDA loan program currently offers a 30 year fixed rate mortgage only. Beginning September of this year a 15 year fixed rate mortgage will be available however there are no adjustable rate mortgages.


There is no maximum loan size for the USDA Program. The amount that you can borrow is limited by your household’s debt-to-income. USDA typically limits to 41% except when the buyer has a credit score over 660, a stable income, or shows a demonstrated ability to save.  USDA loans are insured by the U.S. Department of Agriculture and the biggest feature is its no money down financing. The program can be used by first time buyers as well as repeat home buyers. Homeowner counseling is not required for the USDA Program. By using this Program you can finance 100% of a home’s purchase price and also have access to low; better than average mortgage rates. USDA mortgage rates are often the lowest among FHA, VA, and Conventional loan mortgage rates.

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Buying a Home is a Big Decision!

Purchasing a home, especially for the first time can be intimidating to most people. They say that it is the largest purchase any one will make throughout their life time. Having been with Society Mortgagempany for almost 9 years now, carrying many different hats from being a Loan Officer, Loan Auditor, ordering title work, verification of employments, appraisals to handing closings up until the very end, I have learned a lot.  I must say though, working within the business have taught me so much over the years that I can certainly use in my personal life. If that involves purchasing another home for myself or helping a friend/family  through the process.


I recently helped my in-laws purchase a home in Ohio. We went back and forth with the builder, deciding if we should “let” them handle it all. Including the financing part. I was somewhat against it as I felt I could provide a much more reliable outcome by doing the work myself. We talked about USDA Loans, with no money down, since they were purchasing the home in a rural area of the city. My Father-in-Law is a retired career Air force Veteran, so a VA (Veteran) loan made more sense.  I started the process myself by providing them with a VA application. Took it home and explained every single page to them. From a Loan Officers perspective, I think you need that personal touch to not only gain another customer, but also build the rapport with them. Make them feel that you DO care about this very large purchase they are about to make. Of course in my case, they were family, but I still felt the need to put on the Loan Officer hat at the time so I could really explain what they were getting themselves in to.


Being in the Air Force for over 28 years, my in-laws have lived all over the world, but had never purchased a home for themselves, as they knew they would always be on the move. At the end, my in-laws DID end up going with the lender’s finance company. The reason behind this was simply due to some extra credits they were giving out by staying with the builders finance company and title company.


I still feel good about their purchase as we DID review the finance company’s paper work as well, making sure we still felt comfortable with what they were providing.

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Rural Loans

The USDA Loan is a no down payment loan, put in place to populate the rural areas of the United States. The property cannot produce income, for example, it cannot be used as a rental property or any kind of farmland. USDA Loans have household income caps, meaning you can’t make too much money as a household. For a family under 5 people, the income cap is usually around $75,000, but that varies on the county. The home needs to be built, move-in ready, and not sitting on too much land. The value of the land cannot exceed more than 30% of the entire property. My job here as a loan officer assistant is to go over some basic information and see if you can qualify for this type of loan. Compared to a conventional loan, the credit requirements are much easier to meet. A 640 credit score is required. We would like to see at least 2 years of job history, and also 2 years of rental history. If you qualify for the rural development loan, you will be assisted by a loan officer who can go over this information in more detail, and let you know your pre-approval amount. If you don’t have a realtor we will assign one for you, and you can get out there and start shopping for a home. If you have any questions or concerns during the process, your loan officer will be able to assist you. We hope to hear from you soon.

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Zero Down Purchase Loans

Let Consumer Real Estate help you get started in the pursuit of purchasing a new home!


Here at Consumer Real Estate we specialize in helping individuals utilize the USDA Home Loan Program to make the dream of home ownership a reality.


The USDA Home Loan program is a 100% financed program that allows people to purchase a new home with no down payment at all.  It is meant to make the home buying process a bit easier and put less financial strain on an individual at the time of purchase!

What is the USDA Home Loan Program?

  • It is designed for move in ready homes, that are single family in size, stick built, and can have up to 10 acres of land
  • It is meant to develop rural areas and help construct communities outside of major cities
  • Allows individuals and families to purchase homes without financial strain that takes away from other aspects of life

This program is designed for anyone looking to purchase a home!  If you think this is something that you would like to look into, we will do anything and everything possible to help you get into a new home!


Consumer Real Estate will work directly with you throughout the entire process, keeping the best interests of the buyer in mind at all times.  It is our goal to make the home buying process as easy, stress free and successful as possible for all clients that choose this company, and to get them into a program that suits their needs best and costs as little as possible.


Please, Let us know how we can best help you as far as getting into a new home!

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What is a USDA Loan – Do You Qualify


A USDA loan (also called a Rural Development Loan) is a government insured home loan that allows you purchase a home with NO Money Down. USDA Home Loans offer 100% financing to qualified buyers, and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA offers some the lowest rates of any loan, and you will always have a fixed interest rate.

To learn more about Rural Development Loan qualifications and eligibility, fill out a USDA Loan Application.  Or if you need more information, visit our Rural Development Loan Resource Section for quick answers to common questions, or call the home loan experts at 1-866-854-4242.

Am I Eligible for a USDA Loan?

USDA Loan Eligibility will be determined by three factors:

Credit Worthiness: When an underwriter reviews your credit history on a USDA Loan the major thing they will be looking for is a history of paying your bills in a timely fashion. If you have had blemishes in the past they may be overlooked as long as you have reestablished your credit over the past 12 months. Generally, any open judgments or collections will need to be paid off before you close on your new home.

USDA Loan Income Restrictions: You will need to be able to document your income on a USDA Loan. USDA will generally want to see a two year history of employment or consistent income. Exceptions on the two year requirement can be made for applicants such as students. On a USDA Loan Assets are not required for approval, but can help overcome any possible blemishes on credit.

Where you Live: In order to qualify for a USDA Loan your home must be located in a designated USDA rural area. You can check the USDA eligibility of your county. It might surprise you just how many areas of the United States do qualify for these no money down home loans. The goal of the USDA loan program is to help our nation’s smaller, rural communities thrive by making land and property more affordable.

Owning Additional Property:  The USDA does not currently allow buyers to own another “adequate” property and buy another home by utilizing the USDA Loan program.  The USDA loan is designed for those buyers who do not qualify for other financing and do not have adequate housing.  However, there are certain circumstances when the USDA will allow you to keep the other home.  For example, the USDA does not view mobile (manufactured) homes as adequate property.  Other circumstances include if you have to move or if your current home is not adequately large enough for the size of your family. Learn more!

To learn more about USDA Home Loans and how to take advantage of this great program.  Visit our USDA Loan eligibility page, or call one of our certified experts at 1-866-854-4242.

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