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What type of loan are you looking for?

Stockton Mortgage: Not affiliated or endorsed by the Dept. of HUD or any govt. agency. NMLS #8259.

RHS/USDA Loan
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The Rural Housing Service (RHS)/ United States Department of Agriculture (USDA) Loan  is a no down payment, 100% financing program, which provides families with a low to moderate income level the opportunity to own a home in eligible rural areas.

What is it?

The RHS loan provides no down payment financing in select rural areas. This in turn, attracts home buyers to less dense population areas. However, the family income cannot surpass an income threshold, and the property must be located in an eligible area.

Is it right for me?

This no down payment/ 100% financing loan carries with it some strict guidelines but if you and your property qualify, it is a pretty great option! In order to qualify for a RHS loan, your income can’t exceed 115% of the median household income; your mortgage banker can tell you if you qualify or you can determine your eligibility here. Your credit score must be at least 580. Additionally, you must be a U.S. citizen, U.S. non-citizen national, or Qualified Alien. All that said, if you qualify to obtain conventional mortgage financing without private mortgage insurance (PMI) then you aren’t eligible for a RHS loan. As mentioned above, the property must be in an eligible area; your mortgage banker can tell you if your property qualifies or you can determine your property eligibility here. Additionally, you must plan to use your home as your primary residence in order to obtain this type of mortgage.

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Subject to approval. Property insurance is required for all loans secured by property. Rates are subject to change daily. NMLS #8259.  May require you to take out private mortgage insurance, or PMI. Program conditions are subject to change without notice. Rate lock period is 30 days. The details listed are for informational purposes only. It is provided to assist you in determining an estimate of lender fees that may be present and an estimate of your proposed monthly mortgage payment. There are other costs you will incur, not associated with the lender fees. These costs are paid to third parties involved and are standard in all mortgage transactions, such as title/attorney costs, appraisal, taxes and escrows. You will receive an official Loan Estimate after applying, which will provide you with a detailed breakdown of all closing costs.