USDA

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)

Income Eligibility

  • 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.