A Santa Clarita mortgage lender explains how local families may be able to utilize USDA home loans when purchasing their next home.

Officials from American Family Funding, a mortgage company in Santa Clarita, explained how qualified buyers may be able to finance a home with “no money down” using USDA home loans.

With “100 percent financing to qualified buyers,” USDA home loans offer some of the “lowest rates of any loan” and “always have a fixed interest rate,” said American Family Funding officials. These loans may be attractive to those who wish to transition to home ownership but don’t have a large deposit saved.

Related: Santa Clarita Mortgage Lender Explains FHA Loans For Homebuyers

USDA home loans have three determining factors, according to American Family Funding officials.

Firstly, applicants must have sufficient good credit.

“When an underwriter reviews your credit history on a USDA loan, the principal thing they will be looking for is a history of paying your bills in a timely fashion,” officials said.

Officials from the Santa Clarita mortgage lender stated that “as long as you have re-established your credit over the past 12 months,” it is possible that past credit blemishes may be overlooked. However, open judgements or collections should be taken care of “before you close on your new home.”

The second determining factor lenders consider when applicants file for a USDA home loan is income history.

With some exceptions for students and other populations, “USDA will generally want to see a two-year history of employment or consistent income,” according to American Family Funding officials.

Lastly, filers seeking USDA home loans will need to consider the location of their future home.

“The goal of the USDA loan program is to help our nation’s small, rural communities thrive by making land and property more affordable,” American Family Funding officials said.

Even so, residents of populous areas like Santa Clarita may also qualify for USDA home loans.

“It might surprise you just how many areas of the United States do qualify for these no-money-down home loans,” officials from the Santa Clarita mortgage lender explained.

Those unsure of whether or not they qualify for a USDA home loan, or who are interested in finding out about other loans available to them can use American Family Funding’s online services to explore their options.

“You not only have access to the best loans available in the marketplace,” American Family Funding officials explained, “you can also review loan alternatives and even apply for your loan at your convenience online – 24 hours a day, seven days a week.”

Santa Clarita residents can find out more by contacting American Family Funding via their website or by calling (661) 284-1150.

Ed. Note: This article is a KHTS Community Spotlight for American Family Funding.

American Family Funding a Division of American Pacific Mortgage Corporation NMLS #1850

David Cantrell NMLS #1427091 — Licensed by the Department of Business Oversight Under the California Residential Mortgage Lending Act.

About American Family Funding, Your Resource for Santa Clarita Mortgages

Santa Clarita mortgage lender American Family Funding can help you fulfill your dream of home ownership. A highly rated mortgage lender in Santa Clarita, American Family Funding maintains a focus on community involvement and a commitment to giving back whenever possible. A friendly Santa Clarita mortgages advisor will make the first-time homebuyer experience an easy and stress-free experience — even with bad credit or a low down payment. Unlike some mortgage companies in Santa Clarita or mortgage brokers in Santa Clarita, the home loan officers at American Family Funding also specialize in VA loans, reverse mortgages, refinancing and the STAR Loan Program. If you’re looking for the best mortgage lender in Santa Clarita or a “mortgage lender near me,” contact American Family Funding today. 

American Family Funding
28338 Constellation Road
Suite 900
Valencia, CA 91355
(661) 284-1150
[email protected]

American Family Funding – Valencia

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