USDA Purchase

What is a USDA loan?

A USDA Home loan, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a special mortgage loan available to the borrower in areas designated as ‘rural’ by the United States Department of Agriculture. Many areas of the United States are considered Rural by the USDA. A loan representative can help you determine which areas are eligible for USDA loans. A USDA loan permits you to purchase a home with 100% financing.

Who qualifies for a USDA loan?

Borrowers who earn less than 115% of the median income for the area will qualify for a USDA guaranteed loan. A loan representative will calculate this for you. Qualifying for a USDA loan is like qualifying for other loan programs. Typically, if your monthly payment is less than 41% of your monthly income and you have a good credit history, you should qualify for a USDA loan.

Why choose a USDA loan?

The primary advantage with a USDA loan is that you do not need a large down payment to purchase a home. The USDA program utilizes a common-sense underwriting approach which simplifies the application and qualification for this loan. This is a great program for first time home buyers.

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Oceanside Mortgage Company has loan officers ready to assist you 24 hours per day, 7 days per week. As a Better Business Bureau accredited business with an A+ rating, you’re sure to get the help you need with Oceanside. Call us today by clicking the button below, or call us at (800) 955-8965.

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55 Main St
Toms River, NJ 08753

Loan Servicing
(866) 680-5729

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Oceanside Mortgage Company is a private corporation. Oceanside Mortgage Company is not acting on behalf or at the direction of HUD/FHA/VA/USDA or the Federal Government. By refinancing your existing loan, your total finance charges may be higher over the life of the loan. NMLS# 80015 Visit the Nationwide Mortgage Licensing System & Registry consumer access website for licensing information: Website authorization by the New York State Department of Financial Services is pending. Until this website is authorized, no mortgage loan applications for properties located in New York will be accepted through this site. Arizona Bankers License # BK-0940196