Fast and Affordable Texas USDA Home Loans
Up To 100% Financing
Your USDA Lender for Texas Rural Home Loans - Low Rates, Low Fees & Fast Closings
Texas USDA Loans
USDA Loans – Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for rural Texas properties, but that doesn’t mean you can only take advantage of USDA if you buy a home way out of town. This program helps eligible low to moderate-income families achieve home ownership via a no down payment home loan option. USDA loan limits in Texas vary by county.
– the highest counties are set at $396,400.
* 100% Financing
* 600 Min FICO Score
* Terms: Up to 30 Years
* Low interest rate
* Gift funds can be used at closing
2024 USDA Loan Eligibility
In Texas the USDA loan 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 (Check Eligibility Map)
Maximum loan limits vary based on location
Household members can have a total income of up to 115% for area medium income
Household must be able to afford mortgage, property taxes and annual fees.
What is a USDA Loan?
USDA loans are mortgages backed by the U.S. Dept of Agriculture as part of its Rural Development Guaranteed Housing Loan program.
Texas USDA loans are intended to be loans for borrowers with lower to average income. They offer home financing with no down payment, reduced insurance, and lower rates.
Another advantage of USDA, is that USDA rates are some of the best, matched only by VA loan rates. We specialize in Texas USDA loans and can close loans fast.
To get the lowest possible rate, you will want an excellent credit score. You should also have a low debt-to-income ratio. Making a down payment could also be a factor to getting you the lowest rate possible.
Why Ryan Gibson Mortgages?
Located in Van Alstyne, Texas, we specialize in new home purchases and refinancing of homes in the DFW area. We partner with more than 25 different lenders to provide you with the most diverse and affordable loan options possible. We are happy to work with you to find a lending solution that works for you. Give us a call today and we can give you a no cost estimate.