USDA loans offer affordable options for rural homeownership.

Offered in conjunction with the U.S. Department of Agriculture (USDA), Rural Housing Loans with Southern Trust offer affordable 100% financing options. For those who qualify, 100% financing is available bringing the dream of homeownership within reach.

Key Features of USDA Loans

Financing up to 100% available

Qualified USDA loan borrowers can finance up to 100% of their loan, potentially including all closing costs! you can even finance up to 102% when the USDA Guarantee Fee is included.

No down payment required and larger acreage

If you qualify for a USDA loan, the financing may make it possible to buy a home with more acreage than an FHA or Conventional loan. USDA loans also do not require a down payment.

Closing costs can be financed

If you have extra cash in your pocket at closing, moving into a new home is much easier. With a USDA loan, you can potentially finance your closing costs, which allows you to save money when closing on your new home.

Eligibility Requirements

The subject property must be located in a designated rural area (identified by USDA Rural Housing). Generally, rural areas are towns with less than 20,000 residents that are removed from urban areas.
Both applicants must have an adjusted household income within program guidelines
First-time homebuyers must complete homeownership counseling when credit score is below 660
Maximum allowable DTI ratio is 41%
Minimum credit score of 640 is required
Subject property must be owner-occupied
USDA requires an up-front Guarantee Fee of 2% on purchases, which may be financed.
Site value cannot exceed 30% of total property value.

Why trust Southern Trust with your home financing?

Founded in 1998, Southern Trust Mortgage is a full-service mortgage lender. We offer diverse mortgage products designed to meet any home financing need. Our continued success is a result of the outstanding customer service we offer our clients and business partners. All of our loans are expedited through local processing, underwriting, and closing agents. Our industry-leading service truly sets Southern Trust Mortgage apart.