USDA Loans offer ZERO down payment for eligible borrowers — one of the only loan programs with this benefit!
Affordable Home Financing with USDA Loans
At Contemporary Mortgage Services, we offer USDA home mortgages designed to make homeownership more accessible for individuals and families in eligible rural and suburban areas. Backed by the U.S. Department of Agriculture, USDA loans — also known as USDA Rural Development Loans — provide a path to affordable home financing with zero down payment options and competitive interest rates.
These loans are aimed at helping low to moderate-income households purchase homes in eligible areas, and can be an excellent option for qualifying homebuyers seeking to achieve homeownership with minimal upfront costs.
Benefits of a USDA Home Mortgage
Zero Down Payment
One of the few loan programs that allows you to buy a home with no down payment — making homeownership more achievable.
Competitive Rates
Enjoy lower interest rates compared to conventional loans, saving you money over the life of your loan.
Flexible Credit Requirements
More lenient credit standards make USDA loans accessible to a broader range of borrowers.
Low Mortgage Insurance
USDA loans typically have lower mortgage insurance costs than FHA or conventional loans, reducing your monthly payment.
No Prepayment Penalty
Pay off your USDA loan early at any time without any prepayment penalties.
Eligibility Requirements
To qualify for a USDA home mortgage, you must meet the following criteria:
Geographic Location — The property must be located in an eligible rural or suburban area as defined by the USDA.
Income Limits — Your household income must fall within the specified limits for your area, which vary based on location and family size.
Primary Residence — The home must be used as your primary residence.
Creditworthiness — While flexible, the USDA does require a reasonable credit history and demonstrated ability to repay the loan.
Not sure if you qualify? Use the USDA's official eligibility tool to check if your property and income meet the requirements.
Check USDA Eligibility
Our USDA Loan Options
USDA Guaranteed Loan
Designed for moderate-income borrowers. Backed by the USDA and offered through approved lenders like Contemporary Mortgage Services. Provides competitive interest rates and no down payment requirements.
USDA Direct Loan
Aimed at low-income borrowers and directly funded by the USDA. Offers even more favorable terms, including payment subsidies to further reduce monthly mortgage payments.
The Application Process
Securing a USDA home mortgage with Contemporary Mortgage Services is simple and straightforward:
Consultation — Speak with one of our experienced Loan Originators to discuss your financial situation and determine if a USDA loan is right for you.
Prequalification — Get prequalified to understand your borrowing potential and confirm eligibility for a USDA loan.
Application — Complete the mortgage application with our team's guidance, ensuring all necessary documentation is provided.
Approval — We'll process your application and, once approved, work with you to finalize your loan terms.
Closing — Sign the final documents and enjoy the benefits of your USDA home mortgage!