Home Loans Arizona - California - Nevada - Utah

USDA home loans in St George, Utah are 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 home ownership by offering a no down payment option. The good news! Many great desirable areas just outside of St George, Utah is eligible zoning for the USDA rural development home loan.

The USDA loan program in St George, Utah was created to improve the economy and the quality of life in rural America. The USDA offers a 90% loan guarantee on RHS loans. Since that high percentage reduces risk, Financial Concepts Mortgage provides 100% loan financing with no down payments and low interest rates for qualified rural homebuyers. We’re happy to help homeowners in rural St George, Utah purchase primary residences that are safe, decent, and sanitary. 

USDA home loans in St George, Utah Benefits:

• 100% financing + required guarantee fee = 101% of the appraised value
• Low FICO score requirements
• Low interest rates
• Reduced closing costs
• Gift funds can be used for closing costs
• 30-year, fixed-rate mortgage

In order to qualify for a USDA loan in St George, Utah, you must meet specific requirements. Homebuyers must meet the USDA’s “ability to pay” standards, which include holding a steady job and income proven by tax returns, having a credit score of at least 640, although this can vary by lender, and having a debt-to-income ratio of 41% or less. Other requirements include: 

• Family income cannot exceed the limits set for your area 
• You cannot make more than 15% above the local median salary 
• Property must be located within eligible rural areas 
• Loans can be used for single-family homes only (no duplexes) 
• Mortgage insurance is required for USDA loan applications 

USDA Guaranteed Rural Housing Loans Applying for USDA Loans

We offer USDA Guaranteed Rural Housing Loans. These loans are designed to help families without adequate housing finance the purchase of a home in a rural area. Applicants may have incomes up to 115% of the area’s median income and must be able to afford mortgage payments, including insurance and applicable taxes. Credit score is also considered in the application process.

The duration of a USDA Guaranteed Rural Housing Loan is 30 years, with an interest rate determined by the lender. No down payment is required, which sets these loans apart from more traditional home loans.

To get started on your USDA home loans in St George, Utah please contact Nathan Rufty at 909-503-5600