start portlet menu bar

Web Content Viewer

end portlet menu bar
start portlet menu bar

Web Content Viewer

end portlet menu bar

Benefits of USDA loans

  • No down payment

  • Competitive fixed interest rates

  • Affordable loan guarantee fees

  • Flexible credit scores

start portlet menu bar

Web Content Viewer

end portlet menu bar

What is a USDA loan?

A USDA loan is a mortgage guaranteed by the U.S. Department of Agriculture that is available to rural and suburban homebuyers. USDA loans help lenders like Freedom Mortgage give low to moderate income families the opportunity to purchase or refinance a home in areas outside of metropolitan locations.

Our Loan Advisors can help you determine if you qualify for a USDA loan. When you choose Freedom Mortgage for your USDA loan, you will enjoy a simple lending experience. We will walk you through all the steps needed to get financing for your USDA loan. Call our Loan Advisors today at 877-220-5533.

start portlet menu bar

Web Content Viewer

end portlet menu bar

Can you refinance a USDA loan?

If you currently have a USDA loan, you can apply for a USDA Streamline Refinance to lower your rate or improve your terms. Streamline refinances have less paperwork and documentation. There are no requirements for credit review, home appraisal, or home inspection.

You need to replace an existing USDA mortgage with a new USDA mortgage to be eligible for a streamline refinance. The house needs to be your primary residence, you need to be current on your payments, and your current loan needs to be at least 12 months old . Finally, the new loan amount cannot be larger than the original loan amount.

Freedom Mortgage can help determine if you qualify for a USDA streamline refinance so you can start saving money on your USDA loan. By refinancing, the total finance charges may be higher over the life of the loan.

start portlet menu bar

Web Content Viewer

end portlet menu bar

USDA home loan benefits

A USDA loan can make homeownership more affordable forpeople who live in rural and suburban areas. Benefits of USDA loans include:

  • No down payment

    Many borrowers can get 100% financing with a USDA loan, so they don’t have to worry about having a significant down payment. Government-backed USDA and VA loans are the only loans that offer the option of no down payment.

  • Competitive fixed interest rates

    Since USDA loans are guaranteed by the U.S. government, lenders can offer competitive interest rates. Rates vary by lender and the rate you may be offered is affected by your credit score, finances, and other factors.

  • Affordable loan guarantee fees

    USDA loans have an upfront guarantee fee of 1% of the initial loan amount and an annual fee 0.35% of the average annual scheduled unpaid principal balance.

  • Flexible credit scores

    There is no minimum credit score for USDA loans. Different lenders may have different requirements for credit scores, however.

  • No appraisal or income verification if refinancing an existing USDA loan

    If you already have a USDA loan, you can easily refinance to improve your rate or terms. With less paperwork needed, these loans can close faster than if it’s a new USDA loan.



start portlet menu bar

Web Content Viewer

end portlet menu bar

USDA loan qualifications & eligibility

If you are interested in purchasing a home in a rural orsuburban community, a USDA loan can help you realize the dream of owning ahome. To be eligible for a USDA loan or USDA Streamline Refinance you need to:

  • Be a U.S. citizen or permanent resident.
  • Live in a USDA determined eligible rural or suburban geographic area. Generally towns with a population of less than 35,000 qualify.
  • Meet income eligibility limits set by the USDA. These mortgage loans are intended for people with low to moderate incomes.
  • Use the loan to purchase or refinance a primary residence.
  • Be able to afford the housing payment including principal, interest, taxes, and insurance.
  • Meet the standards for total debt.



start portlet menu bar

Web Content Viewer

end portlet menu bar

Let Us Personalize Your USDA Home Loan

Freedom Mortgage can help personalize your USDA home loan. Whether you’re looking for a USDA mortgage loan or a refinance of a USDA loan, we’ll help you secure the right USDA loan rates and terms.

Get Started today by getting a personalized evaluation of your home loan options from Freedom Mortgage. Call us at 877-220-5533.

start portlet menu bar

Web Content Viewer

end portlet menu bar

What Our Customers Say

Check out the reviews from some of our customers.

start portlet menu bar

Web Content Viewer

end portlet menu bar

Reviews and comments (i) have been submitted by customers voluntarily, (ii) are solely the views of such customers, and (iii) have been screened by Freedom Mortgage Corporation prior to publication in accordance with our guidelines. Customers were not compensated for their reviews/comments but were informed that the submittals may be used in Freedom Mortgage Corporation advertising. Customer experiences are not meant to suggest future performance and may not be representative of your experience

start portlet menu bar

Web Content Viewer

end portlet menu bar

Contact Us

Get started today by getting a personalized evaluation of your home loan options from Freedom Mortgage.

877-220-5533