USDA Rural Development Loans

USDA loans are 100% financing options for people looking to purchase a primary residence in qualifying rural areas. The USDA Rural Development Home Mortgage program is a flexible, no-down-payment, government-insured program designed to promote homeownership for residents with low-to-moderate income, living in qualifying areas. Apply for your Columbia, MO USDA loan or apply for USDA loans for different parts of the country online here! Magnolia Bank is based in Columbia, MO and can help you secure your USDA loan today.

Are you looking to purchase a home in a smaller town or outside of city limits?
Do you have little to no money for a down payment?
Do you have a low-to-no credit score and can’t qualify for a conventional loan?
Are you a first-time homeowner looking for affordable, monthly payments?

If you answered “Yes” to any of these questions, Magnolia Bank in Columbia, MO is the perfect mortgage lender for you. Contact us today to confirm the eligibility of area median income for your area by filling out the form or calling(800) 537-2050.

What is a USDA Rural Development Loan?

The US Department of Agriculture offers a rural development loan program in effort to improve to quality of life in rural areas by working with lenders to extend financial opportunities to the people living there. There are many benefits of the USDA rural development program including no down payment, reduced private mortgage insurance, and they are a positive solution for people who are not eligible for conventional loans. All single-family homes, condos and planned unit developments (PUD) with an occupied owner (no investment properties) are eligible for financing.

Limitation and restrictions vary by county, as boundary areas are defined by the USDA. Income limitations and restrictions will also vary by area and the number of members in your household.

If you would like more information on USDA Rural Development loans and qualifications in Columbia, MO and other areas across the United States, please contact us.

USDA Home Loan Benefits

No Down Payment
Reduced Private Mortgage Insurance (PMI)
No Acreage Limits
100% Financing
Lend up to 103.5% of the home’s appraised value
Low, Fixed Monthly Payments

Google Rating

5.0

Community First Home Loans

Max Prokell

20:58 25 Aug 16

Bobby and his team at Community First Home Loans are great. They take the time to help you find the best home loan options for you, and they do a fantastic job explaining all of your options. I HIGHLY RECOMMEND them to anyone looking for a home loan. Thanks for everything!

jagormanmo

20:41 23 Aug 16

On the contrary, to whoever wrote this childish review about Richie & Bobby, you evidently were gooned out when you wrote this. These men have worked so long & hard for me, getting my loan to go through. I can't even imagine them associating themselves with a "little boy" kind of guy that would write something so childish. You need to go back to school and learn how to Try to put down such hard workers in an adult manner. Grow up young man. I mean't little boy. Jean M.

Brandon Mushlin

19:53 23 Aug 16

I've worked with Richie Duncan in various capacities since 2001. What I know him most for is his straight forward, no time wasting approach with clients, service providers and industry experts. He has been in the industry over 18 years, and he is one of the last I know that will roll up his sleeves to go the extra mile for those clients in tougher situations or with harder credit. Richie continues following up with clients over the years, and his relationship the last 5+ years as a 50 state banker means he is able to help more people that have been put on the back burner. I know many top banks who send him their turn-downs and he is able to work with the client to put them in a loan and great rate. He never pushes you off to an assistant, call it control, or call it an expert wanting to serve his clients, either way, the end result is having a personal advocate in a world that has seen un-trust within the industry. He's rode the industry roller coaster and continues this career for his love of people getting the loan they desire, and his love of the industry, regardless of the continuous changes that come. Richie stays educated and in the know so he can keep you in the know. He has loan options down to a 530 FICO Score for 100% on a purchase or cash out refinance, doing a loan like this takes time, but the programs are available. So please, if you are frustrated, upset with your last experience or are looking for a Mortgage Banker that will always take your calls, then reach out to Richie at Community First National Bank.

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