USDA
The USDA Loan option at Lincoln Capital Fundings provides 100% financing for eligible rural and suburban homebuyers, making it an ideal choice for those with moderate or low income. Backed by the U.S. Department of Agriculture, this loan offers low interest rates and reduced mortgage insurance costs, supporting affordable homeownership in designated areas.
Is a USDA Loan Right for You?
A USDA loan, backed by the U.S. Department of Agriculture, is a mortgage designed to promote homeownership in rural and suburban areas. It offers benefits like zero down payment, low interest rates, and reduced mortgage insurance costs, making it ideal for moderate- to low-income homebuyers looking for affordable financing.
Who is a USDA Loan Right For?
Homebuyers with Moderate to Low Income – Those who meet income limits set by the USDA based on location and household size.
Buyers Looking in Rural – Ideal for those purchasing in USDA-designated eligible areas.
Borrowers Needing Minimal Down Payment – USDA loans offer 100% financing, meaning no down payment is required.
First-Time Homebuyers – USDA loans are accessible to first-time buyers, offering a path to homeownership with affordable monthly payments.
Those Looking to Avoid High Mortgage Insurance Costs – USDA loans typically have lower mortgage insurance fees than FHA loans.
Homebuyers Prioritizing Lower Monthly Costs – The program offers low interest rates and reduced mortgage insurance, making monthly payments more affordable.
Benefits of an USDA Loan
Zero Down Payment – USDA loans offer 100% financing, allowing eligible buyers to purchase a home with no down payment.
Lower Interest Rates – Competitive rates are offered since the loans are government-backed, often lower than conventional loan rates.
Reduced Mortgage Insurance Costs – USDA loans have lower mortgage insurance premiums compared to FHA loans, which can lower monthly payments.
Improved Homeownership Opportunities – Specifically designed for rural areas, it promotes homeownership in underserved regions.
Inclusive Eligibility for Moderate- to Low-Income Buyers – This loan caters to borrowers with income limits based on location, offering accessible financing options.
It’s important to note that USDA loans also come with some drawbacks, such as mortgage insurance premiums (MIP) that can increase the overall cost of the loan. Additionally, there are limits on how much you can borrow with an USDA loan, which may not be suitable for high-cost markets.
Ultimately, whether an USDA loan is right for you depends on your financial situation, credit history, and homeownership goals.
At Lincoln Capital Funding we’ll carefully review your unique financial details to help identify the mortgage loan option that best suits your needs, ensuring a personalized and informed decision for your home financing.
What our clients say about us.
"Lincoln Capital Funding made buying my first home a breeze! The process was fast, and the team was incredibly helpful every step of the way. I couldn’t have asked for a better experience and highly recommend them for anyone looking for a hassle-free home loan!"
I approached Lincoln Capital Funding for a business loan, and they exceeded my expectations. The terms were flexible, and the entire process was transparent and straightforward. Thanks to them, I was able to expand my business seamlessly!
Lincoln Capital Funding helped me secure a car loan with great rates and minimal paperwork. Their customer service was outstanding, and they made sure I fully understood the terms before moving forward. I’ll definitely work with them again for future financial needs!
