USDA loans are guaranteed by the Federal Government and are only available to individuals and families looking to settle in USDA eligible rural areas. Loan applicants may have an income of up to 115% of the median income for the area in which they wish to settle. Qualifying families must be without adequate housing, but able to afford the mortgage payments, including taxes and insurance.
Loan terms are 30-years, and the lender sets the promissory note interest rate. Repayment feasibility is determined by the lender using ratios of repayment (gross) income to Principal, Interest, Taxes, and Insurance (PITI) and to total family debt.
When you are ready for homesteading in the wide-open spaces of the country, turn to Kevin Kuper for your USDA loan needs. The USDA offers a wide range of property eligibility classifications and loan programs. The advantages of a USDA loan can’t be beat, and feature:
With a USDA loan, you can afford to wrangle your dream ranch location and get plenty of room for your little house or modest house of reasonable size, and much more.
Kevin Kuper will do the math and help you determine your eligibility, interest, and payment terms. You start searching for the rural property that is perfect for your family’s unique needs. Country living is that simple.