Buy a New Home
- Competitive USDA interest rates and terms
- 0% down payments for many homebuyers
- Low upfront and annual mortgage guarantee fees
Lower Your Rate and Payment
- Streamline program makes refinancing simpler
- No income verification, credit check, or home appraisal
- Eligible closing costs may be financed into loan amount
0% Down Payments for Many Homebuyers
USDA loans can be a great choice for homebuyers in rural and some suburban communities. They feature competitive interest rates, 0% down payments for many buyers, and low guarantee fees. Begin your homebuying journey today!
How Much Home Can You Afford?
When you’re thinking about buying a home, figuring out how much you can afford is a great first step. Use our home affordability calculator to get an estimate!
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Let us help you save more on your mortgage each month by lowering your interest rate. Fill out the form below and one of our licensed Loan Advisors will contact you.
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A loan advisor from Freedom Mortgage will reach out to you to review your results and discuss the request for a cash out refinance on your home’s equity.
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Based on the values you provided, you may be able to afford a home worth up to
Take the Next Step
- Get prequalified before you start shopping for your next home.
- Learn more about how much to spend on a home.
Frequently Asked Questions About USDA Loans
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USDA loans can make buying or refinancing a home more affordable in rural and some suburban communities. They offer competitive interest rates, 0% down payments for many homebuyers, and low mortgage guarantee fees.
Refinancing USDA loans can be easier when you use the streamline program. USDA streamline refinances are a hassle-free way to lower your rate and payment. They feature less paperwork, no home appraisal, and a faster closing.
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To qualify for a USDA loan, the home you want to buy or refinance must be located in an eligible rural or suburban community. The USDA loan map lets you research properties that may be eligible. Note that final eligibility will be established after you complete your mortgage application.
You will need to meet Freedom Mortgage’s credit score, income, and financial standards to get approved. USDA loans often have 620 minimum credit scores as well as income limits for borrowers. There are occupancy and property appraisal requirements. In most cases, you can only have one USDA loan at a time.
Finally, you’ll need to pay closing costs and guarantee fees to finance a home with a USDA loan.
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The US Department of Agriculture has loan programs that can help you buy and enlarge family farms. These loans are made directly by the USDA. Freedom Mortgage does not offer loans to help you buy farmland.
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Freedom Mortgage can make buying or refinancing a home with a USDA loan simpler. To apply for a USDA loan with us, call 877-220-5533 and speak with an experienced loan advisor. You can also get started online by filling out our web form.
Compare Different Types of Home Loans
| Loan | Eligibility | Minimum Credit Score | Minimum Down Payment | Upfront Fees/ Insurance | Monthly Fees/ Insurance | Streamline Refinancing |
|---|---|---|---|---|---|---|
| Conventional | All homebuyers and owners | Often 620 | Often 5% | No | No with at least 20% equity | No |
| FHA | All homebuyers and owners | Often 550 | As low as 3.5% | Yes | Yes | Yes |
| VA | Veterans, military personnel, surviving spouses only | Often 550 | Often 0% | Yes | No | Yes |
| USDA | Rural and some suburban homebuyers and owners only | Often 620 | Often 0% | Yes | Yes | Yes |
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