USDA Loans

USDA Purchase transactions

The United States Department of Agriculture (USDA) offers the single-family housing guaranteed loan program.  Qualified borrowers can purchase a home in an eligible rural area as determined by the rural housing program. There is an upfront guarantee fee and an annual fee charged to the borrower, however, this program allows for a borrower to purchase a home without putting any money down. Contact one of our licensed loan officers today to apply!

 

USDA Streamline Refinance transactions

The United States Department of Agriculture (USDA) offers three refinance programs for qualified borrowers.  These are a non-streamlined refinance, a streamlined refinance, and a streamlined-assist. Borrower and household income limit qualifications do apply in each case and the property must be in an eligible rural area as determined by the rural housing program. Contact one of our licensed loan officers today to apply!

 

Benefits of USDA Loans

  • 100% Financing - you can buy a home with no money down. In some cases, you can even finance your closing costs.
  • You can refinance your home up to 100% of the value of your home.
  • Low Fixed Rate Mortgage Options.
  • They are usually easier to get because the Government insures the loan so that there is much less risk to the lender.
  • They can be used for Existing Homes, Foreclosures or New Construction.
  • Simple Loan Process.
  • No Loan Limit. No Acreage Limit.
  • There is No Prepayment Penalty.
  • You can use the loan to repair or add on to your home.
  • Flexible Credit Requirements.

Find Us

Success Mortgage Partners, Inc.

1200 S. Sheldon Road
Plymouth, Michigan 48170
734-259-0880
FAX: 734-468-0815
info@smprate.com
NMLS: 130562