Requirements for USDA Loans in Georgia
Abstract
If you have a low to moderate income, consider USDA home loans, such as USDA Single-Family Housing Guaranteed Loans. Whether you're purchasing a large farmhouse to expand your family or you're looking for your first home, here's what you need to know about USDA loan requirements for Georgia. Understanding USDA Single-Family Loans Since the U.S. government backs USDA's Single-Family Housing Guaranteed Loans, OVM Financial can finance mortgages for primary dwellings in eligible rural areas. These USDA home loan funds will help you purchase, build, relocate, or rehabilitate a home with 100% financing and no down payment requirements. Attractive interest rates and terms for USDA loans Georgia USDA loans offer 30-year, fixed-rate mortgages that are typically accompanied by competitive mortgage rates, even compared to their FHA counterparts. Your OVM Financial loan officer will determine your interest rate based on the following: Current income Credit score Debt-to-income ratio You can also complete the USDA's Online Income Eligibility Form to research your eligibility prior to meeting with your loan officer. So whether you plan to build or buy a home in rural Georgia, reach out to your OVM Financial loan officer who can help you develop a plan as well as answer questions about USDA loan requirements in Georgia.
