03/28/2025
If your American dream includes a cozy rural home, a USDA loan might be the perfect solution for you!
In 1991, the USDA introduced these loans to increase opportunities for low- and moderate-income borrowers to purchase homes in rural America. They can be used to buy a new home, construct one, or renovate an existing home.
As a government-backed loan option, USDA loans offer more flexibility in certain requirements, such as:
👉 More flexible credit scores - minimum of 580
👉 No down payment required - Larger down payments may lower your interest rate
👉 No private mortgage insurance is required
To find out if a USDA home loan is the right choice for you, contact New American Funding today.