Mid America Mortgage, Inc. is pleased to offer no money down, 30 year fixed rate USDA mortgages to lower income home buyers in designated rural communities. USDA Rural Housing Development Guaranteed Loans are insured by the US Department of Agriculture and are one of the last zero money down home loan solutions available in the marketplace. And, USDA mortgages are not exclusively for first time home buyers!
To learn more about USDA financing options contact us today or check out the resources below for program highlights.
Contact Us for More Information
- Search our branch directory or call 866-544-7013 to speak with a mortgage professional serving your area.
- Pre-Qualify Now
- Use the Rate Quote Form on this page to request additional information.
More on USDA Mortgages
Please note the underwriting guidelines are subject to change. Contact one of our mortgage professionals today for the most up-to-date guidelines.
You can look up individual properties on USDA’s website here.
You can also research single family housing income eligibility for your state here.
There is no down payment requirement with USDA mortgages. FHA loans, on the other hand, require at least 3.5% down.
Yes. But, you can often finance the upfront mortgage insurance into your loan amount.
No. A review of your credit history is part of the underwriting process. To qualify, borrowers should be able to show a history of paying their bills on time.
You may qualify if your Chapter 7 bankruptcy was discharged three years prior. Chapter 13 bankruptcies are different. Contact a mortgage professional for a thorough explanation.
USDA loans can be used to finance most types of single family properties although some exception may apply. Homes must be used as borrowers’ primary residences and not used as second homes or rental properties. Farms and commercial properties are not eligible through USDA Rural Housing Development Guaranteed Loans.
In many cases USDA permits sellers to contribute borrowers’ closing costs.