100% USDA GRH Loan
What is an USDA GRH Loan?
You may be eligible for this type of loan that offers up to 100% financing when purchasing a single-family home in eligible rural areas.
Benefits of an USDA GRH Loan
No down payment required.
Closing costs can be partially paid by the seller.
Competitive interest rates.
No penalty if you pay off your mortgage loan early.
Frequently Asked Questions
Do I qualify for a USD GRH loan?
There are specific eligibility requirements to qualify for this loan. You must:
- Live in the home and it must be your primary residence.
- Be a U.S. resident, noncitizen national or permanent resident alien.
- Live in an area that the USDA has deemed eligible for financing.
- Show an economic need, meaning your adjusted gross income can’t be more than 115% of the median income in the area you want to live.
- Have a DTI of 43% or lower.
- Your credit score should be 640 or higher, although we look at each person’s financial situation before determining the credit score needed.
The USDA GRH loan can be complex, so be sure to reach out to one of our mortgage loan experts, who can walk you through the process.
Ready to get started?
Securing your home mortgage loan with RailTrust is simple. Apply now and put our experts to work for you.