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USDA/RD Loans

Home - Loan Products - USDA/RD Loans

Why Choose a USDA/Rural Development Mortgage?

Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for properties located in designated small towns, suburbs, and exurbs. This program helps eligible low- to moderate-income families achieve homeownership by offering a no-down-payment option.

Benefits

  • 100% financing
  • 620 minimum credit score required – All borrowers are required to have a credit score
  • Low interest rates
  • Low closing costs
  • Gift funds can be used for closings costs
  • Seller can credit up to 6% of the sales price toward buyers closing costs and prepaid items
  • Great first-time and move-up buyer program

General Guidelines:

  • Property must be located in a USDA designated rural area
  • Maximum loan limits vary based on location
  • Closing costs can be included in the loan amount if the appraisal is higher than the sales price
  • No reserves required

*CMG Home Loans is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency.

Ready to partner with us? Call John Teweles at 855-438-6845 to get started!

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  • 1-800-3-LOW-RATE
  • 32100 Telegraph Rd #220, Bingham Farms, MI 48025

John Teweles NMLS# 131233
Branch Manager
855-438-6845

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17170 West 12 Mile Road Southfield, MI 48076

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Capital Mortgage Funding is powered by CMG Home Loans, NMLS ID# 1820

CMG Home Loans is a registered trade name of CMG Mortgage, Inc., NMLS ID #1820 in most, but not all states. CMG Mortgage, Inc. is an equal housing lender. Licensed by the Department of Financial Protection and Innovation (DFPI) under the California Residential Mortgage Lending Act No. 4150025.; AK #AK1820; AZ #0903132; Colorado regulated by the Division of Real Estate; Georgia Residential Mortgage Licensee #15438; Hawaii Mortgage Loan Originator Company License No. HI-1820. Mortgage Servicer License No. MS068. Massachusetts Mortgage Lender License #MC1820 and Mortgage Broker License #MC1820; Mississippi Licensed Mortgage Company Licensed by the Mississippi Department of Banking and Consumer Finance; Licensed by the New Hampshire Banking Department; Licensed by the NJ Department of Banking and Insurance; Licensed Mortgage Banker – NYS Department of Financial Services; Ohio Mortgage Broker Act Mortgage Banker Exemption #MBMB.850204.000; Licensed by the Oregon Division of Financial Regulation #ML-3000; Rhode Island Licensed Lender #20142986LL; Registered Mortgage Banker with the Texas Department of Savings and Mortgage Lending, and Licensed by the Virginia State Corporation Commission #MC-5521. Licensed by the Washington Department of Financial Institutions under the Consumer Loan Act No. CL-1820. CMG Mortgage, Inc. is licensed in all 50 states and the District of Columbia. Offer of credit is subject to credit approval. NMLS Consumer Access (www.nmlsconsumeraccess.org) This site is not authorized by the New York State Department of Financial Services. No mortgage loan applications for properties located in the State of New York will be accepted through this site

 

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