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USDA Loans

newlywedsYuma is big on agriculture, and the USDA loan program is designed to encourage home ownership in rural areas.  Some of the excellent benefits of USDA loans include:

  • Zero down payment
  • Attractive interest rates
  • Low monthly mortgage insurance
  • Ability to finance closing costs in some cases.

What makes a USDA loan so different?  

  • You can have the seller pay up to 6% of the sales price toward your closing costs so you can buy a home with zero down!
  • Monthly mortgage insurance is less than most other loan programs so you will have a lower monthly payment!
  • No reserves requirement, which means you don’t have to have a lot of money in the bank to buy a house!
  • Not limited to first time buyers!
  • Minimum credit score required is only 640!

While most neighborhoods within the City of Yuma are not considered rural, several other parts of Yuma County are:  Somerton, San Luis, AZ and Wellton are all currently 100% eligible for this type of financing.  You can check the eligibility of the home or neighborhood you are considering here.

There are income limits and debt-to-income ratio rules that must be followed, so contact us for more details, and to see if you qualify!

Find Out More!