The greatest benefit about a USDA loan is being able to put 0% down and get reduced mortgage insurance when compared to an FHA loan. Furthermore, the ability to finance in closing costs if supported by the appraised value; even if it’s higher than the sales price. While the USDA loan was created to help make housing more affordable in rural areas, a lot of people are actually getting denied due to the retail banks’ over restrictive rules unique to them. Contrary to common thought, areas you wouldn’t normally consider rural might actually be eligible. And you also need to meet the income limits of the area. Here are some common myths due to the retail banks setting their own strict rules: – You need a min 640 credit score. The USDA does not have a minimum credit score and we may be able to qualify you with as low as a 500 credit score and possibly still with 0% down. – You have to be a first time homebuyer. No that’s not true. But you do need to be buying a primary house and not currently have a USDA loan. So if you’ve been told by a retail bank that you don’t qualify for a USDA loan, we have more flexibility and follow the minimum USDA guidelines which may allow us to qualify you. These are just a handful of some of the examples how we make it easier to qualify for a USDA loan. Despite having more flexible underwriting, we are very competitive & rarely lose deals over pricing. We close on average in just 3 weeks, providing a stress-free experience for our clients, as we help more Americans to achieve the dream of home ownership.