USDA Loan Mortgage Rates & Requirements in Denver

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!

Pre-Qualify In Minutes, With No Impact To Your Credit Score

With just some basic information, you are on your way to your new Home. In most cases, our agents will call you in a few minutes to get things started. In some rare events it could be up to 24 hours. We always try to call between 8am and 5pm MST, so we don’t disturb you after hours. If you would prefer we did call outside those ours, please just add in a note and we will be happy to oblige.

Why should I get pre approved for my home loan or refinancing?

Home loan pre approval in Denver simplifies the loan process. Preapproval allows a lender to see a full 360 degree view of the borrower's financial situation, enabling us to advise borrowers on all home loan considerations. This helps us identify which loan we offer is the best fit for the borrower. Prequalification allows borrowers to pursue the loan that's best for them and their financial situation.

How can I get ready for home loan prequalification in Denver?

Excellent question! A great place to start is by understanding what lenders look at. For the most part, lenders look at 4 things. The first is your FICO credit score which includes your payment history, credit utilization and the length of your credit history. The second is your income with respect to your monthly housing costs. The third is the number of current loans you have and their status. The fourth and final thing lenders consider is the percentage of the cost of the home you're looking to purchase that you can put as a down payment. Get ready for prequalification by understanding your status in these areas and identifying what you can do to improve them before buying a home.

About US Mortgages

US Mortgages has been securing mortgage pre approval in Denver for over 20 years. Let us know how to reach out to you, or give us a call today.

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Pre-qualification means one of our mortgage specialists will contact you. This does not represent an offer to enter into a loan agreement. Loans subject to credit and property approval. Normal credit qualifications and other terms and conditions apply. Not all loan products or terms are available in all states.