Home Loans Arizona - California - Nevada - Utah

Whether your heart is set on owning a small home or a suburban home in Running Springs, California, a USDA loan could take you one step closer to becoming a homeowner in California.

USDA loans, also known as Rural Development loans, are supplied by the U.S. Department of Agriculture via the USDA Rural Development Guaranteed Housing Loan Program. Designed specifically to boost the economy of rural areas, USDA loans are available to those living in less densely populated parts of the country, including the majority of Running Springs . Although the loans are government-sponsored, lenders are entirely responsible for handling the USDA loan application process.

Many home buyers have never heard of the USDA program because so many lenders don’t offer the program. This is one of the best first-time home buyer programs ever, and possibly the best deal for you if you're buying a home in a rural or small-town setting.

Here’s why:

Running Springs USDA Home Loans Features & Benefits

• It offers 100% financing: No down payment is required.
• The monthly mortgage insurance is cheap.
• It’s government backed, so the interest rate is low.
• Closing costs are standardized (the seller can pay the closing costs).
• There are no reserves required.
• It’s a 30-year fixed-rate program.
• There are no restrictions on gift funds.
• Nontraditional credit histories are considered.
• Blemished credit is often workable.
• New or existing construction is acceptable.
• It’s not limited to first-time home buyers.
• There are never any prepayment penalties.

USDA Loan Requirements 

• Meet the income limit requirements 
• Be a U.S. citizen, non-citizen national or qualified alien 
• Occupy the property as your primary residence 
• Show a willingness to meet debt obligations 
• Home must be in an eligible location 
• Work with a USDA-approved lender 
• Have an adequate credit score for the loan, preferably 620-640 or higher

Ready to start your USDA home loan in Running Springs, California please call Nathan Rufty at 909-503-5600.