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USDA Home Loans

USDA Home Loans

With Leaders and the USDA, your dream of homeownership can become a reality.

Accessible Homeownership

The dream of homeownership should be accessible, not unattainable. Leaders Credit Union offers USDA loans with flexible underwriting guidelines and no down payments.

The dream of homeownership accessible to everyone.

With less-rigid underwriting guidelines than conventional loans, you can be in your dream home in no time. Your dream home is in reach with a USDA loan. Are you:
Looking for a loan program with flexible requirements and guidelines?
Searching for a way to buy a home without a down payment?
Seeking a mortgage with competitive interest rates?
Wanting options when it comes to paying your closing costs?
Ready for a smooth and speedy closing?
In search of simple financial tools to manage your mortgage?
Apply For USDA Loan
USDA Home Loans
down payment

Zero down payment needed

interest rates

Affordable interest rates & closing costs

Flexible underwriting

Flexible underwriting to put the dream of homeownership within reach

Highlights

USDA Home Loans

We’ll put you in your dream home with an affordable USDA mortgage.

Apply for USDA Loan
loan processing

Streamlined loan processing & closing

loan portal

User-friendly loan portal to track your USDA loan progress

down payment

Zero down payment needed

interest rates

Affordable interest rates & closing costs

Flexible underwriting

Flexible underwriting to put the dream of homeownership within reach

loan processing

Streamlined loan processing & closing

loan portal

User-friendly loan portal to track your USDA loan progress

Get Approved Today

Easy online application process
Get Started

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What Our Members Are Saying About Leaders

Frequently Asked Questions About
Home Loans

A mortgage is a loan to finance the purchase of your home. A mortgage loan may also be used in the refinance of an existing home (mortgage) loan.

 

The home you purchase acts as the collateral for the loan, which is a legal contract you sign to promise that you'll pay the debt, with interest and other costs. The typical term for a mortgage loan is between 15 and 30 years.

 

To repay the debt, you make monthly installments or payments that typically include (PITI):

 

  • Principal
  • Interest
  • Taxes
  • Insurance 

Leaders Credit Union offers mortgage loans at affordable rates.

The specific amount of your closing costs will be based on your loan amount and other factors. Here are the fees that are included in your closing costs.

  • Third-party fees, including the appraisal fee, credit report fee, settlement/closing fee, survey fee, tax service fee, title insurance fee, flood certification fee, property insurance premium, and courier/mailing fee. Where applicable, these are fees that Leaders will collect and pass on to the party who performed the service.
  • Property taxes and other unavoidable costs, including your state/local property taxes and recording fees.
  • Lender fees, including mortgage points (if applicable), document preparation fees, and loan processing fees.

Your closing costs will be disclosed on the Loan Estimate and on the Closing Disclosure. For USDA mortgages, you are permitted to apply a family gift toward the closing costs or negotiate with the seller to have them pay the closing costs.

Yes. If the home appraises high enough above the purchase price, you may have the option to roll your closing costs into your loan. Provided you can qualify for the higher loan amount and afford the higher monthly payment, you may be able to avoid paying closing costs out of pocket.

Yes, USDA requires 0% down payment.

No but there is an annual guarantee fee that takes the place of mortgage insurance. You’ll pay a one-time up-front fee that’s equal to 1% of your loan, and an annual fee as well.

Mortgage points offer home buyers the option to trade an up-front payment to reduce the interest rate for their mortgage. The cost of points is added to your closing costs. The benefit of buying points if you can afford it is that you will save money over the term of your mortgage thanks to a reduction in your interest rate.

Still have questions? Visit our Help Center.

Do You Have Mortgage Questions?

Schedule a free appointment with one of our Mortgage Champions and we’ll help you choose the best home loan for your needs.

Contact Mortgage