USDA Mortgage Delaware: Choosing Between Direct or Guaranteed Program

First Time Home Buyers Mortgage | Mortgage for First Time Home Buyers | www.USDALoansDirect.comIt takes two to tango, and this is why you need USDA Loans Direct to take you through the paces of applying for USDA mortgage Delaware. You will not require any sheaves of paperwork during application.

  • You pay no money down.
  • You require zero bank reserves.
  • Even extremely low-income applicants and higher-than-moderate income borrowers can qualify due to the flexible nature of the debt and earnings ratio.

We usually recommend the following two subprograms of this Rural Development program, but we strongly advise you to consider your income options first before going for either:

Direct Program

USDA Mortgage DE provides this program under special circumstances to qualifying applicants. You may qualify if you meet the following income limitations:

  • You are on the low/extremely minimal wage group.
  • You are in a rural county according to RD’s designation.

Talk to us today and find out if you qualify for USDA mortgage Delaware, with just 50% if not 80% of the Area Median Income (AMI).

Guaranteed Program

The Guaranteed scheme is synonymous with the mortgage because it is what the Rural Development first had in mind as a model of an agricultural loan. It enforces the following requirements on borrowers:

  • You must reside in a rural or semi-urban region of your state.
  • You are willing to turn the home into your primary residence.
  • Most importantly, your earnings are 115% of your county’s per capita.

If you meet the above simple guidelines, why not apply for your first or second-time buyer USDA mortgage DE today!

The Application Process

You can use the following process for the Direct or Guaranteed USDA mortgage Delaware scheme.

  1. Apply via USDA Loans Direct.
  2. Select a home purchase product, either Direct or Guaranteed, depending on your income parameters.
  3. Wait for confirmation from a lender who will take you through the appraisal stage.
  4. Receive approval and the specific repayment plan from the United States Department of Agriculture.
  5. Repay at your pace and refinance if you wish, during amortization.

Indeed, USDA mortgage Delaware does not impose any overwhelming paperwork like conventional programs.

Give a call 1-888-202-4479

Helpful links for you to review:


USDA Down Payment Assistance

First Time Home Buyer

USDA Rural Development Loan