USDA Programs
There are two main points of interest for the USDA loan for homeowners in southeast Georgia.
1. Property must be in an eligible area. All properties in Bryan and Effingham county qualify. Certain sections of Chatham and Liberty county qualify. Your loan officer will be able to tell you if a certain property qualifies.
2. There are income caps for the USDA loan but compared to other goverment backed loans they are very generous.
Why choose a USDA loan?
100% financing: no downpayment
No private mortgage insurance
30 year fixed interest rate
Flexible credit guidelines
No maximum purchase price
Closing costs, legal fees, and other eligible costs may be rolled into the loan
Will I qualify for 100% Guaranteed financing?
To be eligible applicants must:
Have a steady and dependable income
Demonstrate a reliable credit history
Be a U.S. citizen, or be legally admitted to the United States for permanent residence
Meet the "adjusted income limits" for the county in which they are purchasing
Qualify within the flexible guidelines offered by USDA for housing and debt loads
Purchase a new construction or existing dwelling located in an eligible area