USDA Loan

  • Home
  • USDA Housing Loan Benefits
  • USDA Loan Information
    • Guaranteed USDA Rural Home Loan And USDA Direct Loan
    • USDA Loan Credit Requirements
    • USDA Loan Eligibility
    • USDA Loan Property Eligibility
  • USDA Loan Quote
  • USDA Loan State Information
    • Arizona USDA Loans
    • California USDA Loans
    • Ohio USDA Loans
  • Blog

Ohio USDA Loans

In Ohio, USDA loans are a popular way to finance a home when the property qualifies. One of the many reasons that the USDA loan program is popular in Ohio is because you can get true 100% financing and not pay mortgage insurance every month.

The downside to an Ohio USDA loan is that there are only certain properties that qualify and from time to time the USDA loan program will run out of money. The most important thing that you can do when thinking about the USDA loan program is to work with a loan officer who knows what they are doing and has access to the property databases so they can tell you what properties qualify for the USDA loan program.

2016 USDA Loan Limits are in effect. The USDA loan has two different types of qualifying income, but doesn’t have a loan limit like FHA or VA loans do. Remember, when calculating income for USDA loans, there are there are items that can be subtracted from the income in order to help qualify for the USDA Loan.

Ohio USDA Loan Highlights:

  • Zero Money Down
  • One Fixed Rate Loan
  • No PMI Insurance required
  • No cash reserves required (money in the bank not required)
  • Single Family Homes only (can’t purchase duplexes, apartments, ect.)
  • No mobile homes
  • No “fixxer-uppers” (standard homes in working order)
  • Flexible credit requirements (similar to FHA)
  • Over 620 credit score automaticaly credit qualifies.
  • Low, fixed interest rates

Income Restrictions: USDA loans don’t have a loan limit – but they do have income restrictions.   Click here to check your USDA income restrictions.

Location Restrictions: USDA home loans are not for the “big cities” and surrounding areas.  Click here to check qualifying areas in Ohio.

Latest News

  • How to Create an Attractive USDA Loan Application
  • USDA First Time Homebuyer Education: Things You Need to Know
  • How to Tell if a Home is USDA Eligible

Search

IMPORTANT MORTGAGE DISCLOSURES:

When inquiring about a mortgage on this site, this is not a mortgage application. Upon the completion of your inquiry, we will work hard to match you with a lender who may assist you with a mortgage application and provide mortgage product eligibility requirements for your individual situation.

Any mortgage product that a lender may offer you will carry fees or costs including closing costs, origination points, and/or refinancing fees. In many instances, fees or costs can amount to several thousand dollars and can be due upon the origination of the mortgage credit product.

When applying for a mortgage credit product, lenders will commonly require you to provide a valid social security number and submit to a credit check . Consumers who do not have the minimum acceptable credit required by the lender are unlikely to be approved for mortgage refinancing.

Minimum credit ratings may vary according to lender and mortgage product. In the event that you do not qualify for a credit rating based on the required minimum credit rating, a lender may or may not introduce you to a credit counseling service or credit improvement company who may or may not be able to assist you with improving your credit for a fee.

Copyright © Mortgage.info is not a government agency or a lender. Not affiliated with HUD, FHA, VA, FNMA or GNMA. We work hard to match you with local lenders for the mortgage you inquire about. This is not an offer to lend and we are not affiliated with your current mortgage servicer.

Contact Us | Terms of Use | Privacy Policy | Media | DMCA Policy | Anti-spam Policy | Unsubscribe

Mortgage.info

NMLS ID #1237615 | AZMB #0928735

8123 South Interport Blvd. Suite A, Englewood, CO 80112

CLICK TO SEE TODAY'S RATES