USDA features and benefits:
Possible to close with no cash due at closing
FICO scores as low as 620 still qualify for a low rate
Lowest closing cost of all the government sponsored loan programs
What are USDA Home Loans?
A USDA Mortgage provides a low-cost insured home mortgage loan that suits a variety of options for buyers planning to live in a rural area (Email us to determine if your property is in a rural area). A USDA mortgage is likely the best home loan option if you want to purchase a home with no down payment. If you’re unsure about your credit rating, or have concerns regarding your down payment, USDA Rural Mortgage Loans can offer you piece of mind with zero-down, super low to no closing costs, and the lowest loan fees of all the government sponsored loans.
Offering: USDA Guaranteed Rural Housing Loans
USDA Guaranteed Home Mortgage Loans are the most common type of USDA Loan in Hawaii. The USDA loan program allows for higher income limits and 100% financing for home purchases. (Email us today to determine if your income is eligible for a USDA loan). USDA Guaranteed Loan applicants are allowed an income of up to 115% of the median household income for the area. All USDA Guaranteed Loans carry 30 year terms and are set at a fixed rate.
USDA Lending Limits for USDA Loans in Hawaii Counties
State of Hawaii USDA Income Limits by County
*Add 8% of 4 person limit for each person in excess of 8 persons.
**Moderate income is defined as the greater of 115% of the U.S. median family income or 115% of the average of the state-wide and state non-metro median family incomes or 115/80ths of the area low-income limit.