Sun City USDA Home Loan Programs

Interested in a USDA Home Loan for your Sun City, California mortgage? Don't know how a USDA Home Loan Program can work for you? Here at Mountain West Financial we offer the most competitive rates and programs for our customers while providing all the relevant information in order to give our clients the opportunity to make the best choice for their future. If you're unfamiliar with a USDA Home Loan but are looking to buy your first home in Sun City, California, read on and see if this program can fit for you.

What is a USDA Home Loan?

A USDA Home Loan is a mortgage program from the Rural Development agency of the United States Government. The program was created to incentivize Americans to live in rural areas of the country. The benefits of a USDA home loan are seen as one of the best deals possible for a home mortgage in the US. First, the home loan is completely financed, meaning there is no down payment required toward the principal of the loan. Second, USDA home loans are not required to pay Private Mortgage Insurance (PMI), another continual expense of most mortgages today. Third, there is no cap to the value of a home for a USDA home loan. So no down payment, no mortgage insurance, and no limit to the value of the home you can finance, sounds perfect! Now in order to qualify for this mortgage in Sun City, California, there are a couple of requirements to pass.

USDA Home Loan Program Requirements - Explained

A couple of requirements for the USDA Home Loan are needed to show that the borrower, you, can afford the payments and have the capability to pay back the loan. They are as follows:

  • 580 Credit Score or Higher
  • No home foreclosures within the past 36 months
  • No discharged bankruptcies within the past 36 months
  • No more than one 30 day late payment on consumer debt
  • Cannot have any accounts sent to collections in the past 12 months
  • No tax liens or delinquent government debt, which includes student loans
  • No judgements outstanding in the past 12 months
  • No outstanding collection accounts
  • Cannot have more than one late rent payment in the last 12 months

Also, you must be below the Adjusted Gross Income (AGI) limit set by the Rural Development in your county.

Get a USDA Home Loan Program Quote for Sun City Today

If you pass all these requirements and are looking for a home loan in the Sun City, California area, there really is no better way to go than Mountain West Financial. Contact us via e-mail at info@nathanrufty.com or by phone at (909) 230-4395 today and we'll help answer any questions and tailor fit this program to work for you. 
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