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townhomes

USDA Home Loan Benefits & Requirements

Personal Banking

 

no money for a down payment?

NO PROBLEM


A USDA (United States Department of Agriculture) loan is insured by the government and provides homebuyers with opportunities not available through other loan types. Let Univest help you determine if a USDA loan is right for you.


benefits of a Univest USDA loan

  • 100% Financing and no down payment
  • Seller contributions up to 6% of purchase price allowed
  • Program available to first-time or move-up homebuyers
  • Flexible credit guidelines
  • Competitive 30-year fixed rate program
  • Lower mortgage insurance rates
  • Loans may include closing costs and other fees
  • Refinance options available


eligibility requirements for a USDA home loan

  • Credit worthiness must be proven
  • Income limitations apply
  • Property must be located in a designated rural housing area
  • Must be a US citizen, permanent resident or qualified alien


types of properties available to finance with a USDA loan

If purchasing a primary residence in Pennsylvania, New Jersey, Delaware, or Ohio, the following property types are available to finance with a USDA loan from Univest:
  • Single Family Homes 
  • Townhomes
  • Condominiums (Approved by Fannie Mae, Freddie Mac, HUD or VA)
  • Modular or Pre-Fabricated Homes
 

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next steps

Looking for expert tips and advice? Get in touch with a Univest Home Loan Consultant for additional information or to discuss the financing options best suited for your situation.

Check it out! Resources are also available on the Univest Blog

 
 
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