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Home loans

What is a USDA loan?


The USDA (short for United States Department of Agriculture) doesn’t just certify that your favorite cut of beef is fit for the grill; among many other things, it also guarantees or directly provides loans to qualified homebuyers in rural communities. If you’re a low- to moderate-income applicant in an eligible rural area, USDA financing might be a good option for you.

Types of USDA loans

Direct loans
For low-income applicants. These loans are issued directly from the government to the buyer, and require no down payment or USDA Guarantee Fee.

Guaranteed loans
For moderate-income applicants. A guaranteed loan is not made directly by the government, but rather by lenders who receive backing from the USDA in the event the borrower defaults on the loan. You’ll pay no money down, but you will have to pay USDA Guarantee Fees.

Other buyer benefits
In addition to saving money on a down payment, you’ll also enjoy these advantages of a USDA loan!

  • Gifts are allowed: No down payment means you won’t need gift funds from a family member, but gifted money can be used to pay closing costs.
  • Less than perfect credit: You don’t typically need spotless credit to qualify for a USDA loan. The USDA Guaranteed Loan Program accepts lower FICO scores.
  • No first-time homebuyer requirement: Some loan programs require you to be a first-time homebuyer, and to take homeowner counseling. With the USDA, however, a history of homeownership will not impact your ability to get a loan.

Communities eligible for USDA financing
Think you might qualify for a USDA loan? Check out the following Richmond American communities in eligible rural areas:


Green Valley:

Los Arroyos ~ From the upper $100s


Presidio del Norte ~ From the upper $100s
The Estates at Madera Highlands ~ From the mid $300s


Eagle Crest Ranch ~ From the upper $100s



Wyndham Hill ~ From the low $300s


Coyote Run ~ From the low $300s


Jacoby Farm ~ From the low $300s


Green Cove Springs:

Rolling Hills at Lake Asbury ~ From the upper $100s


The Crossings at Bartram ~ From the upper $200s

St. Augustine:

Coquina Ridge ~ From the mid $200s
Glen St. Johns ~ From the mid $200s
Park Place ~ From the upper $200s

St. Johns:

Oakridge Landing ~ From the upper $200s


Pine Ridge Plantation ~ From the upper $100s



Berryville Glen ~ From the mid $300s


Lee’s Parke ~ From the upper $300s


Madison Crescent ~ Price coming soon


The Villages of Piedmont at Leopold’s Preserve ~ From the low $400s


Lovettsville Town Center ~ From the upper $300s

Stephens City:

Old Dominion Greens ~ From the low $300s


Lynnehaven ~ From the low $300s


Saratoga Springs:

Fox Hollow ~ From the upper $200s

Stansbury Park:

Picket Lane ~ From the low $200s

How can I learn more?
Contact HomeAmerican Mortgage Corporation (HMC) to learn about current programs and find out how to quality. Call a mortgage loan originator toll-free at 866-400-7126 today!

Please note: HomeAmerican Mortgage Corporation’s principal offices are located at 4350 S. Monaco Street, Suite 200, Denver, CO 80237. HomeAmerican Mortgage Corporation (NMLS Unique Identifier #130676; NMLS Consumer Access website: http://www.nmlsconsumeraccess.org), 866-400-7126. Arizona Mortgage Banker license #0009265. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. Colorado Mortgage Loan Originator License #LMB100019179. Check the license status of your mortgage loan originator at http://www.dora.state.co.us/real-estate/index.htm. In Nevada, all advertised loans are offered and funded by HomeAmerican Mortgage Corporation, which can be contacted at 7770 S. Dean Martin Drive, Suite 308, Las Vegas, NV 89139, 702-638-4450, License #67. Licensed by the New Jersey Department of Banking and Insurance. Licensed by the Virginia State Corporation Commission, MC-358. Licensed by the Washington State Department of Financial Institutions (CL-130676).