USDA Home Loans 2017-10-27T15:30:04+00:00

   Corp NMLS #3113 | Utah State License #5491140-MLCO | Salt Lake City, UT

Utah USDA Loan Program Center 

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USDA HOME LOAN PROGRAM OVERVIEW

Academy Mortgage Team 101’s USDA Home Loan Program provides 102% financing, (the purchase price and guarantee fee) for low- to moderate-income homebuyers wanting to buy a home in a rural development area in Utah.

USDA Home Loans are affordable and backed by the federal government. Qualified program participants must purchase a home in an eligible rural area, as defined by the U.S. Department of Agriculture, and have a household income that does not exceed the established limits where the home is located.

USDA BENEFITS

NO 100%
down payment required for qualified buyers financing on a fixed 30-year loan, based on appraised value
ONE-TIME GIFTS
USDA Guarantee Fee can be included in loan financing or grants permitted from family or government assistance agencies
Up to 100% Financing of Purchase Price
Credit Scores as low as 640
Debt-to-Income Ratio as High as 41%

QUALIFYING FOR USDA

Both first-time and experienced homebuyers may take advantage of a USDA Home Loan, provided they meet the following qualifications:

  • Income limits cannot exceed the USDA’s Rural Development income limits for the area.

  • Must have a minimum credit score of 640 (660 if have a prior short sale) and debt-to-income ratio of 41%.

  • Credit history with no more than one “30-day late” payment in past 12 months and no major credit problems in previous 36 months.

  • Eligible properties include single-family homes, new construction, modular homes, planned unit developments (PUDs), and eligible condominiums.

USDA QUICK FACTS  

Minimum Down Payment
0% (No Down Payment Required)

Minimum Credit Score
640 (Some Restrictions Apply)

Maximum Debt-to-Income Ratio
41% (Some Restrictions Apply)

Academy Mortgage is an approved lender by the U.S. Department of Agriculture for the USDA Loan Program

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REQUEST TODAY’S

USDA RATES

USDA rates are updated daily. Please fill out the form and we will send up-to-date rates as soon as possible.

Home  /  Loan Programs  /  USDA Loan Program

USDA HOME LOAN PROGRAM OVERVIEW

Academy Mortgage Team 101’s USDA Home Loan Program provides 102% financing, (the purchase price and guarantee fee) for low- to moderate-income homebuyers wanting to buy a home in a rural development area in Utah.

USDA Home Loans are affordable and backed by the federal government. Qualified program participants must purchase a home in an eligible rural area, as defined by the U.S. Department of Agriculture, and have a household income that does not exceed the established limits where the home is located.

USDA QUICK FACTS  

Minimum Down Payment
0% (No Down Payment Required)

Minimum Credit Score
640 (Some Restrictions Apply)

Maximum Debt-to-Income Ratio
41% (Some Restrictions Apply)

Academy Mortgage is an approved lender by the U.S. Department of Agriculture for the USDA Loan Program

QUALIFYING FOR USDA

Both first-time and experienced homebuyers may take advantage of a USDA Home Loan, provided they meet the following qualifications:

  • Income limits cannot exceed the USDA’s Rural Development income limits for the area.

  • Must have a minimum credit score of 640 (660 if have a prior short sale) and debt-to-income ratio of 41%.

  • Credit history with no more than one “30-day late” payment in past 12 months and no major credit problems in previous 36 months.

  • Eligible properties include single-family homes, new construction, modular homes, planned unit developments (PUDs), and eligible condominiums.

USDA BENEFITS

NO 100%
down payment required for qualified buyers financing on a fixed 30-year loan, based on appraised value
ONE-TIME GIFTS
USDA Guarantee Fee can be included in loan financing or grants permitted from family or government assistance agencies
Up to 100% Financing of Purchase Price
Credit Scores as low as 640
Debt-to-Income Ratio as High as 41%

%

REQUEST TODAY’S

USDA RATES

USDA rates are updated daily. Please fill out the form and we will send up-to-date rates as soon as possible.

USDA ELIGIBILITY MAP  

USDA LOAN CALCULATOR 

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USDA ELIGIBILITY MAP  

USDA LOAN CALCULATOR 

Submit to Academy
Contact us right away and start on the path towards homeownership with an USDA loan from Academy Mortgage Team 101!
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ABOUT ACADEMY MORTGAGE TEAM 101

Collaboration is the key to homeownership

  • We have the distinct advantage of having our entire team under one roof (loan officers, processors, underwriters, & closers). This allows us to move your loan smoothly through the mortgage approval process.

  • Nobody knows Utah mortgages better than Team 101. We study local market conditions, pricing scenarios, and the multitude of Utah loan programs available—so you don’t have to.

  • Our modern technologies (online tools, mobile apps, eSign) along with a strong commitment to customer service, take the stress and hassle out of getting your home loan.

MEET OUR LOAN OFFICERS

It is incredibly important to me that you have a great experience, so we’ve made superior customer service our highest priority at Team 101. We want you to feel confident that you have chosen to work with the best team in the industry, and we’ll work hard to fulfill the commitments we make to you.

JEFF MORGAN, BRANCH MANAGER | NMLS #256029

If you choose me as your mortgage professional, you will get a hard worker who is determined to find the right loan option for your unique situation. I consider it an honor to be part of such a major decision in your life, and I will repay the trust you put in me by making sure that our commitments to you are fulfilled.

ERIK ROBINSON, SALES MANAGER | NMLS #263807

My team and I have over 25 years of mortgage experience, so you can count on us to find you the best financing option for your unique situation. I am disciplined, caring, and motivated—traits that I will employ to help you achieve your homeownership goals. Going the extra mile for each and every one of my clients is just part of the package.

DEIDRE KAY, LOAN OFFICER | NMLS #223591

We’re “in it in a minute” until the end. With over 25 years in the mortgage industry in different capacities (loan officer, processor, underwriter, closer), I know exactly what it takes to get a speedy approval and take your loan from A to Z with the least amount of stress. I live by the philosophy that if your clients are happy, you are happy.

TINA ZAK, LOAN OFFICER | NMLS #217728

My business philosophy is simple: Let me save you…TIME…EFFORT…and FRUSTRATION! I will put my 20+ years of financial experience to work for you. What I love about working in the mortgage industry is helping people attain their dream of homeownership, and I’ve already helped over 800 families and individuals achieve their goal.

JEFF SAVAGE, LOAN OFFICER | NMLS #201909

As a passionate and motivated individual, I especially enjoy working with first-time homebuyers and sharing in the excitement of purchasing a first home. In the ever-changing mortgage industry, it’s important that you choose someone that helps you navigate its complexities and educate you about different loan options.

AUSTIN KENT, LOAN OFFICER | NMLS #959895

I enjoy my job as a Loan Officer at Academy Mortgage Team 101 because I love making people’s dreams come true. Today’s home loan process can be a bit intimidating with all of the new regulations and technologies, so I will take the time to guide you through it and make it as simple as possible.

CAROL M, LOAN OFFICER | NMLS #202218

Everything I’ve done in my professional career has led up to this moment–becoming your trusted Loan Officer at Academy Mortgage Team 101. For the past 10 years, I’ve worked in the banking and financial planning industries, and I’ve learned many valuable lessons about analyzing people’s financial needs.

RAPHAELS HUNT, LOAN OFFICER | NMLS #1242477

USDA Home Loans are guaranteed through the U.S. Department of Agriculture Rural Development. All mortgage products are subject to credit and property approval. Rates, program terms, and conditions are subject to change without notice. Not all products are available in all states or for all amounts. Additional conditions, qualifications, and restrictions may apply. This is not an offer for extension of credit or a commitment to lend. Please contact Academy Mortgage Team 101 for more information.

* Source: Academy Mortgage’s 3rd Quarter 2016 Customer Satisfaction Survey, with a sample size of 6,944 Responses

** Source: CoreLogic Marketrac Report for 2016, published in January 2017