USDA home Loans info and benefits: 100% Financing

 USDA Home Loans, also known as " USDA rural development loan," are backed by the United States Department of Agriculture and designed to help low-to-moderate-income families achieve homeownership in eligible rural and suburban areas. 100% financing with no down payment.

Are you eligible?

USDA loan eligibility" refers to the criteria that determine whether a borrower qualifies for a USDA loan, including income limits, property location, and credit requirements. Credit scores as low as 540. 

1. No Down Payment: One of the most significant advantages of USDA Home Loans is the 100% financing option. This means you can buy a home without needing to save for a down payment.
2. Low Interest Rates: Guild offers USDA loans that often come with competitive interest rates, making your monthly mortgage payments more affordable.
3. Flexible Credit Requirements: USDA loans have more lenient credit requirements compared to conventional loans, making it easier for families with less-than-perfect credit to qualify.
4. No Private Mortgage Insurance (PMI): Unlike other loan programs, USDA loans do not require PMI, which can save you money over the life of the loan
5. Closing Cost Assistance. Guild also offers assistance with closing costs up to $12,500 for those who qualify. 
6. Manufactured Homes: We now offer USDA financing on manufactured homes.

1. Check Eligibility: Use the USDA's online tool to see if your desired property is in an eligible area.
2. Submit: Work with Guild Mortgage - Peter Knap Team to start your application.-  START HERE
3. Submit Documentation: Provide necessary documents, such as proof of income, credit history, and employment.
4. Get Pre-Approved: Once your application is reviewed, you can get pre-approved and start house hunting!
5. Real Estate Agents: Do you need an agent who is familiar with USDA housing and financing? Let me know. 404-276-4268

A: A USDA loan is a government-backed mortgage offered by the U.S. Department of Agriculture to help low-to-moderate income buyers purchase homes in eligible rural and suburban areas. The program offers 100% financing, meaning no down payment is required.  

A: To qualify, you must:

• Purchase a home in a USDA-eligible area. - Click Here 
• Meet income limits (typically up to 115% of the area median income).
• Have a credit score of at least 540 for streamlined processing.
• Show stable income and manageable debt levels

A: No set loan limits, but your debt-to-income ratio and income will determine how much you can borrow 

A: Single-family homes, new construction, and some manufactured homes in USDA-approved areas. The home must be your primary residence. 

A: You can apply through Peter Knap at Guild Mortgage - Click Here. There’s no cost to apply. 

Fun Fact : We also have the option to offer to help pay for closing costs. Ask us how. 

A: Yes! You can get pre-approved even if you’re not currently living in the state where you plan to buy, as long as the lender is licensed there. 

Peter Knap is a Sales Manager at Guild Mortgage in Marietta, GA, known for his expertise in USDA and other home loan programs.

• Jadan L. (Cedartown, GA):
  “Peter and the Guild team were excellent. They answered all our questions quickly and made the loan process easy.”
• Karen M. (Rockmart, GA):
  “Peter was amazing! We closed a week early with no issues. Highly recommend!”
• Gerard M. (Rockmart, GA):
  “Peter was transparent, responsive, and eager to help. A great experience!”
• April S. (Rockmart, GA):
  “As a first-time buyer, Peter walked me through everything. His team kept me updated every step of the way.” 

Fun Fact : Did you know that Guild is one of the TOP USDA Lenders in the US?