USDA
Guaranted Loans
USDA Guaranteed Loan Program
Rural development loans are a great option for your borrowers who need 100% financing. Klick Mortgage is a top government lender that offers a smooth and quick process for both your clients and referral partners. Count on Klick Mortgage to hit contract dates on USDA purchases, with direct access to underwriting and industry-leading turn times.
What does the USDA Guaranteed Loan do?
The Section 502 Guaranteed Loan Program helps low- and moderate-income families in eligible rural areas buy, build, fix up, or move into affordable homes. Eligible borrowers can get a 100% loan, so they don't need any money down.
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The program guarantees 90% of the loan amount to approved lenders, which reduces the risk of lending to rural homebuyers. This makes it easier for low-income families to qualify for a home loan.
What is an Elegible Rural Area?
Utilizing this USDA's Eligibility Site you can enter a specific address for determination or just search the map to review general eligible areas.
USDA Guaranteed Loan
1 Day Approval
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30-year fixed rate
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No down payment required
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No cash reserves needed
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Closing costs may be financed on some transactions
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Seller contributions allowed
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620+ FICO and Elite pricing starting at 640+ FICO
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Available on single- and multi-wide, condos and PUDs
Less Documentation
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Meet income-eligibility (cannot exceed 115% of median household income)
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Agree to personally occupy the dwelling as their primary residence
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Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien
Fast Closings
This program helps lenders work with low- and moderate-income families in rural areas to buy homes. Providing affordable homeownership opportunities helps people in rural areas become more prosperous, which creates thriving communities and improves people's quality of life.