USDA Rural Housing Loans in California
Depending on your income and where you are looking to purchase a home in the State of California, you may be able to finance it with no money down. Sound too good to be true? It’s not, when you qualify for a mortgage backed by the US Department of Agriculture (USDA).
There are a number of eligibility requirements for a USDA Rural Housing Loan, but if you meet them, eLEND can help you reach your goal of home ownership in the Golden State with little to no out of pocket expenses.
How the Program Works
About USDA Loans
A loan guaranteed through the USDA is one of the most popular financing choices in California, and there are plenty of reasons why. USDA mortgages can be made for up to 100 percent of the property’s appraised value (or slightly more), and no down payment is needed.
A USDA mortgage is offered at a 30-year fixed rate, meaning your payment will never increase. The loans can often include closing costs and other legal fees, and allow the seller to help contribute to the closing costs.
Lower Your Mortgage Rate with an eLEND Refinance
Don’t let the name deter you – a rural housing loan backed by the USDA could include many areas in California that are just on the outskirts of major cities. If you already have a new residence in mind, it’s important to check first to see if it is in an eligible geographic area. Next, check the income eligibility guidelines for the California county in which the property is located. Both of these requirements can be determined by visiting the USDA Rural Housing website.
Additional terms and conditions apply to this highly attractive California home loan alternative. A professional eLEND mortgage consultant can help you through the process every step of the way. Chat online with us, or give us a call at (800) 634-8616 and we’ll answer any questions you may have about a CA USDA no money down rural housing loan.
We also offer low money down FHA loans in California which require at least 3.5% down. The may be a good alternative product to research.
Call Today for a Free Rate Quote
Speak with an eLEND representative today to learn more about the benefits of a California USDA mortgage.
- Call (800) 634-8616.
- Request a free quote by using the buttons below.
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