What is the USDA Loan?
The USDA loan in Maine is an awesome options for anyone looking to purchase a new home. This is a Government Loan that is insured by United States Department of Agriculture, its ideal for those looking to purchase their first home.
Beneﬁts of the USDA Loan
- 30 year fixed rates
- Very Low Interest Rates
- No Down Payment Required
- Seller can Pay up to 6% for closing costs
- Very Low Mortgage Insurance Compared to FHA or Conventional
- Lower Income Families qualify
- Streamline Refinance Available for existing USDA Home Owners (Streamline Refinance Info)
- Each county has their own Income Eligibility Requirement
- If you are unsure about your current income please give me a call at 207-590-0337.
Property Eligibility Map
- USDA has certain areas that they will or will not lend in
- Currently anywhere outside of Portland, parts of South Portland, Westbrook, & Biddeford will qualify for USDA.
- Give me a call at 207-590-0337 for a USDA property eligibility map for a more specific property address.