USDA Loans
Colonial now offers a powerful mortgage option for Rural and Suburban Homebuyers. USDA Loans come with significant benefits that provide homebuyers the opportunity to achieve loan terms that no other program can offer. Any individual or family who plans to occupy a home located in an eligible rural area as their primary residence and who meets credit guidelines may apply.
- No down payment required. Borrowers who qualify for a USDA Rural Development home loan have the flexibility to pay nothing out-of-pocket for a down payment
- Gifts and grants may also be used for down payments
- Competitive 30 year fixed interest rate. Loans are available at attractive rates for 30 year terms only
- Flexible credit guidelines. A credit report is still required, but flexible guidelines may allow homeowners with less than perfect credit to qualify
- No maximum purchase price. There is no maximum purchase price limit, but maximum loan amounts are still determined by ability to repay
