SACD is an Equal Housing Opportunity provider.
Call: 870-230-1717
Home Mortgages
United States Department of Agriculture (USDA) offers a USDA Guaranteed Rural Housing Loan Program. This loan program is administered by the Rural Housing Service (RHS), an agency within the Rural Development mission area of the US Department of Agriculture. The USDA Guaranteed Rural Housing Loan Program are loans for up to 100% of market value. These loans can include closing costs, guarantee fee, required repairs, legal fees, title services, and other prepaid items provided the appraised value is higher than the sales price.
Homes that qualify must be structurally sound, functionally adequate, and meet USDA thermal standards. Plumbing, heating, water, waste disposal, and electricity must be certified as adequate and the home must be free from termites.
Borrowers must personally occupy the home following the purchase. Mortgages are 30-year fixed rate at market interest rates.
To be eligible you must have an adequate and dependable income, be a US citizen (or legally admitted to the United States for permanent residence). You must have a credit history that indicates a reasonable willingness to meet obligations as they become due. To qualify, most rural area household incomes cannot exceed the guidelines shown below.
Household Incomes Guidelines |
|
1-4 Persons |
$74,050.00 |
5-8 Persons |
$97,750.00 |
All program income guidelines are subject to change according to State and Federal agencies.