USDA Loan Mortgage Rates & Requirements in Denver
One of the most specialized loan products we offer at US Mortgages in Denver is the USDA Loan.
As living costs rise in cities all around the state of Colorado, and rent prices continue to climb, the appeal of home ownership in rural and suburban communities is attracting increasingly more of Colorado's urbanites. The USDA Program was developed to provide homebuyers with attractively low that are impossible to find within city limits. Prospective homebuyers can purchase their home in Colorado for down payments as low a zero dollars with a USDA loan.
USDA loans in Colorado are available as both 15 Year and 30 Year fixed rate mortgages. Rates are frequently much lower than similar conventional loans. These loans also do not require private mortgage insurance, but rather the borrower pays a much lower premium upfront. Though this is a government program, the government is not the direct lender – the loan is given through local partners like US Mortgages.
Learn more about what the USDA home loan is, who qualifies and how to get started below if you're looking to purchase a home in or near Denver.
What is the USDA Loan offered by US Mortgages?
The USDA Loan rates were developed by the United States Department of Agriculture's Rural Department to boost home ownership in lower population (and lower cost!) areas. These funds can also be used for refinancing under some circumstances.
Who qualifies for the USDA Loan offered by US Mortgages?
There are simple requirements for a USDA Loan in Denver. Single families living in a rural area with certain financial conditions can qualify for the USDA home loan rates. Borrowers must personally live in the home to qualify for USDA loan. They must also confirm that the property their purchasing qualifies based on several conditions.
What are the next steps for getting a USDA Loan from US Mortgages?
If you're ready to have a conversation about if a USDA mortgage will improve your financial standing and brighten your family's future, contact US Mortgages in Denver! You can provide us some basic information online, begin a short or long form application or give us a call. We are available to prequalify you and fast track your path to Denver home ownership through a USDA loan from US Mortgages in Denver!