USDA Loans in Chattanooga, TN | Brothers Financial

The United States Department of Agriculture, USDA, administers the program but does not actually loan money. Similar to loans backed by the Department of Veterans Affairs, VA, or Federal Housing Administration, FHA, these loans are guaranteed by the USDA. Private lenders, such as banks or credit unions, still loan money to the home buyer but they know that the USDA will pay if the borrower is unable.

This allows lenders to assume less risk, and as a result they are okay requiring less money down.

Contrary to its name, the USDA loan is not only available for those in an agricultural setting. The USDA loan is designed to help “low and moderate income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas.”

To use the USDA loan, applicants must meet income requirements and be purchasing a home for their own primary use in an eligible area. Potential homeowners can look up each property’s address to see if it qualifies or talk to a lender about using a USDA loan in their area. The loan can be used for new homes, existing homes, and even homes that need some renovations.

If coming up with a sizable down payment is holding you back from your dreams of home ownership, the USDA loan may be just the answer you are looking for.

Purchase your home with as little as 0% down payment.
30-, 25-, 20- and 15-year terms are all available with fixed rates.
5-year adjustable rate mortgage available.
No monthly PMI (Private Mortgage Insurance).
USDA loans are governed by the U.S. Department of Agriculture.
Pay your mortgage off at any time without pre-payment penalties.

Household income limits apply and are based on location.
Only available in certain areas. Talk to a specialist today to see if it is an option for you!
Buy a home with no money down (primary home).
Refinance up to 100% of your primary home’s value.

REVIEWS

Customer Feedback

Brothers Financial would like to thank you for choosing us to take care of your mortgage needs. We understand the mortgage process can be very challenging, but our goal is to make it as easy as possible for you.

    
 
 
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   Rachel Eagleton 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brian helped me get funding when I had been turned down by multiple other lenders due to being self-employed. The entire process was seamless and I am so grateful for his help. Thanks to him I get to make necessary repairs to my home and stay in it for years to come.
  
 
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   Aidan Tree 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brody and Brian helped us so much in our home purchase every step of the way and made the process seamless and quick, and a at great rate!
  
 
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   Daphne Herrera 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great experience! We’ve worked with Brian for about 7 years now. We live in Colorado and when Brian advised he was moving to TN, we were bummed. Thankfully, that doesn’t prevent us from doing business! This process was fairly streamline and fairly painless. Brian made sure to update us along the way and advise if there were additional documents needed. I definitely recommend using Brother’s Financial!!
  
 
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   Mary-Grace Griffin 
 
 
 
 Trustindex verifies that the original source of the review is Google. I highly recommend Brian Reid. He helped so much with the home buying experience. He was always willing to to answer questions and guide us through the process.
  
 
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   Ann Kömel 
 
 
 
 Trustindex verifies that the original source of the review is Google. Working with Brian made our home buying process much less stressful! His knowledge and expertise got us more favorable loan terms and interest rate. He was great to communicate with and very responsive as things change quickly. Can't recommend him enough!
  
 
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   Ayoka Moss 
 
 
 
 Trustindex verifies that the original source of the review is Google. Great time working with Brian on 4 refinances congruently!
  
 
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   Tammy Souther 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brian and his team are fantastic! Highly recommend them for you home loan needs. Communicated well and made our process a breeze!
  
 
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   Nick Souther 
 
 
 
 Trustindex verifies that the original source of the review is Google. Amazing. Brian was amazing throughout the entire process. Very transparent, and involved with you as a client. He made a stressful experience ao much easier
  
 
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   Ginny Newman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Brian was great to work with. He responded quickly and answered all our questions to help us understand and feel comfortable with the process.