usda loans, usda home loan, what is a usda loan, rural home loans, usda financing

USDA Home Loans

Looking for USDA lenders in Central or Northeast Iowa? Experience better banking at Lincoln Savings Bank. We are your local USDA-approved lender with locations in Greene, Nashua, Allison, Aplington, Waterloo, Cedar Falls, Hudson, Lincoln, Reinbeck, Garwin, Tama, Ankeny, Grinnell, Clive, and Des Moines.

What is a USDA Home Loan?

Also known as the Single Family Housing Guaranteed Loan Program, USDA loans help low- and moderate-income households buy homes in eligible rural and suburban areas. For qualifying homebuyers, USDA loans offer the flexibility of 100 percent financing, low fixed-rates, low fees, and minimal mortgage insurance compared to other mortgage loans.

Benefits of USDA Loans

  • 100 percent financing, no down payment required
  • Competitive, flexible interest rates
  • Financed closing costs

How do I qualify for USDA loans?

  • Must meet the income eligibility requirements
  • Property must be located in an eligible rural area
  • Property must be a primary residence and meet all program criteria

When to Choose a USDA Loan

If you can qualify for a USDA loan in an eligible urban or rural area, it’s probably your best option. The VA mortgage is another government-insured loan program that offers up to 100 percent financing. However, you must be an eligible service member or veteran to qualify. Another low-down-payment mortgage option for low- and moderate-income homebuyers is the FHA loan.

Contact an LSB Mortgage Lender Today!

If you think a USDA home loan may be right for you, schedule a free consultation with our mortgage lending team. Fill out the form below and one of our home loan experts will reach out to you soon. We offer personalized service and the local expertise that only comes from more than a century of service to your community. Contact us today or visit your nearest Lincoln Savings Bank branch in Northeast or Central Iowa.

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