Originally designed for rural homeowners, USDA loans allow home buyers who may not qualify for a conventional home loan due to credit, income, or cash-flow issues to purchase a home in designated rural and suburban areas. As government-backed loans, USDA loans have many financial benefits for qualified individuals, and with eligibility requirements recently expanded to include more rural and suburban areas of Kansas City, even more homeowners can take advantage of a USDA loan’s savings.
Advantages of USDA Loans
- Low Rates and Fees USDA loans are insured by the United State Department of Agriculture, so they are able to offer qualified KC homeowners a loan option with lower rates and fees. With low private mortgage insurance (PMI), fixed-interest rates, and the option of including closing costs into the loan, USDA loans can help many Kansas City residents afford their homes.
- No Down Payment Requirement USDA loans do not require a down payment, so you can finance 100% of the loan. This is perfect for Kansas City home buyers with limited cash on hand.
- Flexible Credit and Income Requirements USDA loans accept lower credit and higher debt ratios, providing an affordable loan option to lower-middle-income families that have stable employment, newly employed Kansas City residents, or even recent college graduates, so they can purchase their home in our great community.
USDA Loans with Golden Oak Lending Kansas City
If you are interested in a USDA loan, contact our Overland Park office today. Our experienced and knowledgeable staff will help you determine whether your home in Kansas City, Kansas or Kansas City, Missouri is eligible for this loan, as well as personally guide you through the entire lending process. With incredible low rates, Golden Oak Lending Kansas City will save you money, so you can enjoy your new home stress-free.