Our team of USDA Loan Specialists work hard to help you achieve your goals of home ownership – regardless of financial circumstance or location. Backed by the Department of Agriculture, USDA loans are federally insured and can be compounded with USDA-sponsored grants. These loans have several unique qualifications that set them apart from other traditional lending products and government-backed home loans.
Call 1-800-24-RATES to speak to a USDA Specialist at Mutual of Omaha Mortgage today
USDA Loans Vs Other Loan Options
While the USDA loan is a federal program, the government generally does not make direct loans to applicants. Private lenders, including Mutual of Omaha Mortgage, finance the loan while the US government offers an insurance guaranty. This guaranty provides an incentive for private lenders to offer loans with better terms, and protects them in the event of a customer default. See how a USDA loan stacks up to other loan types.
USDA | Conventional |
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Who Qualifies | |
Applicants in rural areas who fall beneath the median income line of their respective county, and/or require a mortgage to renovate their home or live with a qualifying physical or mental limitation. |
Both VA and non-VA eligible applicants who exceed maximum USDA and FHA lending requirements with moderate-to-high income, moderate-to-high credit and strong employment history. |
How to Qualify | |
Contact a Mutual of Omaha Mortgage Banker or fill out this form to get your pre-qualification
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Contact a Mutual of Omaha Mortgage Banker or fill out this form to get your pre-qualification |
Benefits | |
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Available Housing | |
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USDA | FHA |
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Who Qualifies | |
Applicants in rural areas who fall beneath the median income line of their respective county, and/or require a mortgage to renovate their home or live with a qualifying physical or mental limitation. |
Any applicant who meets the minimum credit, income and employment requirements from the Department of Housing and Urban Development (HUD) and Federal Housing Administration (FHA).
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How to Qualify | |
Contact a Mutual of Omaha Mortgage Banker or fill out this form to get your pre-qualification |
Contact a Mutual of Omaha Mortgage Banker or fill out this form to get your pre-qualification
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Benefits | |
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Available Housing | |
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USDA | VA Loan |
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Who Qualifies | |
Applicants in rural areas who fall beneath the median income line of their respective county, and/or require a mortgage to renovate their home or live with a qualifying physical or mental limitation. |
U.S. Military Veterans or Active-Duty service members, with qualifying service records, and qualified spouses as determined by the Department of Veterans Affairs (VA). |
How to Qualify | |
Contact a Mutual of Omaha Mortgage Banker or fill out this form to get your pre-qualification |
Apply for a COE on your own, or ask Mutual of Omaha Mortgage to help with the process |
Benefits | |
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Available Housing | |
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USDA Eligibility
In addition to living in a rural area, an applicant must meet certain strict income guidelines. USDA Loans are intended to provide quality homes to individuals with very low-to-median incomes.
Your income rating will largely depend on where you decide to live.
Mutual of Omaha Mortgage will take the median income for the area you live in and gauge the information you provide us based on that public data.
USDA Loans may or may not require any down payment from qualified applicants.
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