Mortgage Loan Programs and Eligibility Requirements

A comparison of available loan programs - conventional, FHA, VA, USDA, jumbo, HELOC and specialty financing - with the credit, down payment and property rules that decide which one fits.

Income limits and property-location rules apply, so the first step is checking whether the home and your household income qualify.

Benefits of a USDA loan

• No down payment required for eligible borrowers
• Competitive fixed interest rates
• Lower mortgage insurance cost than many low-down-payment options
• Flexible credit underwriting

What to consider

• The property must be in a USDA-eligible area
• Household income must fall within USDA limits for your county
• The home must be your primary residence

Ready to explore usda loans? Jonathan Leidel can walk you through eligibility, compare options, and get you pre-approved in Florida and 4 more states.

Jonathan Leidel, Producing Branch Manager at Buying a new home or refinancing? Local Mortgage Authority are top-rated brokers offering competitive rates from our Asheville, NC & Spartanburg, SC offices.. NMLS #1312477. Call (828) 242-5597.

• Conventional loans for strong credit and steady income
• FHA loans with flexible credit and low down payment
• VA loans with no down payment for eligible veterans
• USDA loans for eligible rural and suburban properties
• Jumbo, DSCR, bank statement and bridge financing