USDA Rural Development’s Section 502 Direct Loan Program provides a path to homeownership for low- and very-low-income families living in rural areas, and families who truly have no other way to make affordable homeownership a reality.
Families who truly have no other way to make affordable homeownership a reality.
Eligible applicants may build, rehabilitate, or improve a dwelling in a suitable rural area. Borrowers seeking a USDA Home loan program in Houston have to meet the following criteria:
• Meet income-eligibility • Agree to occupy the dwelling as their primary residence • Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien • Have the legal capacity to incur the loan obligation • Have not been suspended or debarred from participation in federal programs • Demonstrate the willingness to meet credit obligations on time • Purchase a property within an eligible area.
Upon loan approval borrower may use funds for:
• New or existing residential property to be used as a permanent residence. T he transaction may include c losing costs and reasonable/customary expenses associated with the purchase.
• A site with a new or existing dwelling. • Repairs and rehabilitation when coupled with the purchase of an existing home. • Refinancing of eligible loans. • Special design features or permanently installed equipment to accommodate a household member who has a physical disability. • Reasonable and customary connection fees, assessments or the pro rata installment cost for utilities such as water, sewer, electricity, and gas for which the buyer is liable • A pro-rata share of real estate taxes that is due and payable on the property at the time of loan closing. Funds can be allowed for the establishment of escrow accounts for real estate taxes and hazard and flood insurance premiums • Essential household equipment such as wall-to-wall carpeting, ovens, ranges, refrigerators, washers, dryers, heating and cooling equipment as long as the equipment is conveyed with the dwelling • Purchasing and installing measures to promote energy efficiency (e.g., insulation, double-paned glass, and solar panels) • Installing fixed broadband service to the household as long as the equipment is conveyed with the dwelling • Site preparation costs, including grading, foundation plantings, seeding or sod installation, trees, walls, fences, and driveways.
Don’t wait any longer and find out how much loan you can get Pre-Approved.
Whether you are considering purchasing or refinancing an existing USDA mortgage loan, Clear Lending can help you. Simply complete our secure and encrypted Pre-Approval Form online, and we will contact you right away to review the best options for you.
Not all applicants will qualify. This advertisement is not an offer for an extension of credit. Please meet with a licensed loan originator for more information as programs are available only to qualified borrowers. Programs rates, fees, terms, and programs are subject to change without notice. Not all loans, loan sizes, or products may apply. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet loan-to-value requirements, and final credit approval. Approvals are subject to underwriting guidelines and program guidelines and are subject to change without notice. Some restrictions may apply.
Words really can’t express our gratitude to Joan and his attentive and polite team of experts, ( Patricia and Jorge) who were always professional and answered all our questions promptly in a knowledgeable manner. After searching many places that did not show interest in addressing our concerns, we found Clear Lending, from the very first phone call we felt appreciated and understood. Thank you so much! I would highly recommend Clear Lending to everyone!
Thank you soooo much Joan , Patricia and Samantha for helping us purchase our first home ever. My wife and I are so thankful there are no words to express the joy we feel each time we open the door of our house. I say to my worldloans.online/300-dollar-loan wife… wait is this our house? Then I remember that yes, we just closed few days ago…. LOL. Jokes aside everything you Joan have done for us ever since day one is beyond any words of appreciation. In our case, we truly feel you have been godsent . I still remember the day my wife and I went to Wells Fargo to be told our chances were very limited due to my taxes’ deductions and so we needed to wait 2 possibly 3 years. My own bank Wells Fargo, Bank of America, Chase, Capital One and God knows how many places we tried. Each one gave us similar reasons but at the end the message was that we didn’t qualify and zero instructions. Well yes, the instructions were that our taxes didn’t reveal the true picture and health of my business operations. Great and now what? Nothing. And so, I stopped searching. Sometime later after talking to a client about my hopeless attempt to buy a house, he told me about a loan officer who showed up from time to time in the radio station offering home loan programs traditional banks would not offer. And so, I started googling until I found Clear Lending. I asked my colleague and bingo! This was the company. And so, I applied online, got a call back very fast, completed an application over the phone, sent income documents and then I was asked to go with my wife at their office. After one hour or so, I was given precise instructions to become a home owner with a government loan program. All I remember was… “If you follow my advice, we will make it happen”. And a year later, Joan got us the house of our dreams, negotiated best deal to cover most closing costs and closed our loan with a 4.25% interest rate when my own was offering me 4.875%. I am so thankful I found this guy I still cannot believe the miracle he worked for us. Again, thank you Joan and your team for being a true servant and valuable tool to make possible what for me I was told bank after bank to stop searching as it was not possible. I will always refer you absolutely everyone desiring to buy a house. You are indeed the miracle man.