USDA Loans
What is a USDA Loan and Are You Eligible for One?

Qualify for a USDA Loan in Florida
USDA loans provide rural homebuyers with a zero-down payment mortgage. They are typical for borrowers who are not wealthy and cannot afford a conventional mortgage. There are a variety of mortgage loan programs to choose from out there — how do you know if a USDA loan is right for you? Read on to learn how it works and who qualifies.
Ready to get prequalified for a USDA loan from Point Mortgage of Miami?

How USDA Loans Work
There are three core USDA home loan programs:
Loan guarantees — The United States Department of Agriculture guarantees mortgages issued by a local lender to allow people to get low mortgage interest rates, without even needing money down
Home improvement loans/grants — USDA loans can provide as much as $27,500 in assistance.
Direct loans — Low-income applicants below a certain threshold (which varies by location) can get interest rates as low as 1% with a USDA loan.

How to Qualify for a USDA Loan
There are a number of factors that determine whether or not you qualify for a USDA loan:
U.S. citizenship or permanent residency
A monthly payment that is 29% or less than your monthly income
Dependable income (usually for at least 24 months)
An acceptable credit history
To apply for a USDA-backed loan, talk with a member of our team at Point Mortgage Corporation. We provide people in the Greater Miami region with all sorts of different loans. While USDA loans may seem targeted primarily to farmers and ranchers, your occupation is not a prerequisite for getting one. Eligibility is more about income and location than anything else. Want to see if you qualify for a USDA loan?