If you are unable to put money down on your new property, you may qualify for a USDA loan. In fact, the USDA mortgage assistance program is a little-known gem that can help you fund your dream home.
Contact one of our home mortgage lenders to learn more about our mortgage options and how to apply for a USDA loan today.
What Is a USDA Loan?
USDA loans are zero-down-payment mortgages intended for low- to moderate-income home buyers who are unable to qualify for a conventional loan. These loans are guaranteed by the U.S. Department of Agriculture and Citizens Bank of Ada offers them at below-market interest rates. USDA loans are intended for rural and suburban home buyers and are an attractive option for borrowers looking to purchase their first home.
How Does It Work?
USDA loans are not actually issued by the government. The government simply guarantees the mortgage, and the loan is issued by a certified USDA lender, such as Citizens Bank of Ada.
Am I Qualified for a USDA Loan?
To qualify for a USDA loan, you must meet the following eligibility requirements:
How Long Is the Process?
Once the USDA approves your application, the loan typically closes within a few days. You can expect the entire process, from purchase contract to closing, to take about 30 to 45 days, depending on the qualifying circumstances.
Why Citizens Bank of Ada?
Citizens Bank of Ada has been supporting our neighbors in the community since 1967. We’ve remained locally owned and operated for over 50 years. From the beginning, we’ve been guided by our stated mission: "Empowering our neighbors to reach their dreams while honoring God by the way we serve."
Let us earn your trust and help you find the perfect loan for your dream home. Contact our USDA mortgage lenders at 580-332-6100 to learn more about how to apply for a USDA loan today.
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