USDA home loans are designed to meet the needs of people living in rural areas and outlying metropolitan areas. They are offered by private lenders such as Foundry Mortgage and guaranteed by the Federal government.

The staff at Foundry Mortgage have spent years helping people make the dream of home ownership a reality with USDA loans. We live and work in the same communities where we do business so we truly understand the needs of our customers.

We will help you determine whether you qualify for a USDA loan by evaluating your household income and credit history as well as the property address of the home you are planning to purchase.

Benefits of Georgia USDA Home Loans

There are several advantages to USDA loans aside from allowing for the purchase of a home with no down payment. In most cases, borrowers may have credit scores as lows as 620. They are also permitted to be only two years removed from bankruptcy and three years from foreclosure. Credit report trade lines may be created with utility and cellphone bills.

When negotiating a purchase agreement, the seller can contribute up to 6% of the purchase price for closing costs making it possible for the purchase of a home with no cash investment whatsoever.

Mortgage Insurance rates are cheaper for those who qualify for a USDA loans. This is particularly true for borrowers with credit scores below 700 when compared with FHA or Conventional loans.