USDA LOANS

EMBRACE THE CHARM OF COUNTRY LIFE

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AFFORDABLE RATES, INFINITE HOME POSSIBILITIES

USDA MORTGAGE RATES

Say goodbye to the city and hello to rural homeownership with competitive USDA mortgage rates. 

Rate Effective Date: SEPTEMBER 17, 2024

ProductInterest RatePointsAnnual Percentage RateMonthly Payment per $1,000
30 Year6.000%06.568%$6.06

Disclosure:

Income restrictions apply.

Rates, and APR (Annual Percentage Rate) are subject to change based on factors such as points, loan amount, loan-to-value, borrowers’ credit, property type and occupancy.

Payments do not include amounts for taxes and insurance premiums, if applicable; the actual payment obligation will be greater.

All Loans Subject to Credit Approval.

Country Bank will lock in the interest rate for seventy-five (75) calendar days upon receipt of signed Intent to Proceed and applicable application fee.

Annual Percentage Rate (APR) based on guarantee fee of 1.00% and annual fee of 0.35%

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BENEFITS OF USDA LOANS

No Down Payment

Owning a home in the countryside has never been easier! USDA loans don’t require any down payment.

Credit Flexibility

USDA loans do not have a strict credit score requirement, which makes it a great option for those with a less-than-perfect credit score. At Country Bank, our minimum required credit score is 620.

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How much house can I afford?

USDA MORTGAGE CALCULATOR

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WHAT IS A USDA LOAN?

Your Key To The Country

If you are looking to purchase or refinance a home in one of the many quaint/rural towns across Massachusetts, a USDA loan could be the best financing option to help you achieve your goals.

 

A USDA home loan is a type of mortgage that is guaranteed by the United States Department of Agriculture (USDA). This guarantee results in many benefits home buyers can take advantage of such as competitive interest rates, flexible credit requirements, and no down payment obligation which all end up with more savings in your bank account.

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USDA LOAN ELIGIBILITY BREAKDOWN

Explore Your Options

Taking a closer look at the details of each program helps you find the best solution for your homeownership goals. Here are the USDA eligibility requirements to help you decide if a USDA home loan is your entryway to homeownership:

 

  • You must live in the home which serves as your primary residence.
  • You must be a U.S. citizenship or legal permanent resident (i.e. U.S. non-citizen national or qualified alien)
  • You must demonstrate a dependable income.
  • You must have an adjusted household income that is equal to or less than 115% of the area median income.
  • You must have a credit score of 620 or better.

Your property must be located in an eligible rural area.

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BUILD YOUR FUTURE

MORTGAGE LOAN PROFESSIONALS

When you’re applying for a mortgage, it’s important to have someone you trust at your side. We’re experts at walking you through the entire process, answering your questions, and cheering you on to success. It’s what we’re made to do.

Justin Calheno

BUSINESS DEVELOPMENT OFFICER, RETAIL LENDING NMLS #5549 jcalheno@countrybank.com Direct Dial: 413-277-2370 Cell: 413-626-0395 Fax: 413-234-3243

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Janelle Soucia

RETAIL LOAN OFFICER NMLS #432695 jsoucia@countrybank.com Direct Dial: 413-277-2348 Cell: 413-262-2141 Fax: 866-757-5784

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Jomaria Velez

RETAIL LOAN OFFICER NMLS #618959 jvelez@countrybank.com Direct Dial: 413-277-2318 Cell: 413-636-2925 Fax: 866-506-7515

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Kelly Kemp

RETAIL LOAN OFFICER NMLS #432698 kkemp@countrybank.com Direct Dial: 413-277-2383 Cell: 774-200-5017 Fax: 866-726-4071

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Salema Desantis

RETAIL LOAN OFFICER NMLS #1687192 sdesantis@countrybank.com Direct Dial: 413-277-2114 Cell: 413-302-3467 Fax: 413-403-4416

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INFORMATION IS KEY

USDA LOAN RESOURCES

Take control of your future finances and set yourself up for success by making informed mortgage choices today.

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FINDING YOUR SOLUTION

USDA LOAN FAQs

What information is needed at the time of the mortgage application?

We have you covered! Here is the information you’ll need when you are ready to apply for a mortgage.

What steps should I expect as part of the mortgage application process?

STEP 1: GET PRE-QUALIFIED

Fill out a mortgage application for a prequalification. As part of this process we will obtain your credit report and request income documentation. We will then determine the amount that

you would be approved for and issue a prequalification letter. This letter can be used to put in an offer on a home.

 

STEP 2: ACCEPTED OFFER

Once an offer is accepted, you will want to contact your loan officer to get your mortgage application submitted.

 

STEP 3: REVIEW LOAN ESTIMATE
Once we have received and processed your submitted mortgage application, you will receive your initial loan disclosure paperwork which includes your loan estimate (a breakdown of potential closing costs associated with your transaction).

 

STEP 4: PROPERTY APPRAISAL

Once you have reviewed your initial disclosure package and signed your intent to proceed. The appraisal fee will be collected and your appraisal will be ordered. The property will be appraised to establish its current market value.

 

STEP 5: UNDERWRITING PROCESS

The Loan Processor will submit your paperwork to a Residential Mortgage Underwriter who will underwrite this file to secondary market guidelines.

 

STEP 6: LOAN APPROVAL PACKAGE

After underwriting has approved your mortgage, the loan approval package will be sent out to you. Typically, this package will contain any outstanding loan conditions that are needed before the closing can be scheduled with the attorney. Once underwriting has received and reviewed the outstanding conditions, the loan will be cleared to close. At that point you will begin to work on scheduling the closing with your attorney. At least three days before your closing, you will receive your initial closing disclosure. This is a very important document as it breaks down the amount needed to bring to the closing.

 

STEP 7: CLOSING

The “closing” is the last step in buying and financing a home. This is when you and all the other parties in a mortgage loan transaction sign the necessary documents. Before you sign, make sure you carefully read and understand all the loan documents.

 

 

What are the credit requirements to get a mortgage?

Credit requirements are dependent on many different factors including the loan program applied for. There are many different factors that are taken into consideration when approving a mortgage, so if you are unsure of how your credit history will affect your application, please contact one of our loan officers who will discuss options with you.

What are closing costs, and how much do they cost?

Closing costs are the fees you pay to complete your loan; they include but are not limited to origination fee, title insurance, prepaid escrows, and more. Closing costs will vary depending on many different factors including the loan program applied for, down payment, etc. Your loan officer will provide you with a loan estimate that will break down expected closing costs.

the right mortgage makes all the difference

MORTGAGE OPTIONS

FIXED RATE MORTGAGE

ADJUSTABLE RATE MORTGAGE

FIRST TIME HOME BUYER

REFINANCE

USDA LOANS

CONSTRUCTION LOAN

LAND LOANS

MOBILE HOME LOANS

HOW CAN WE HELP YOU

CUSTOMER SERVICE

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BANK SMARTER

MANAGE YOUR MORTGAGE WITH MOBILE BANKING

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View Your Mortgage Balance

Knowing where your current mortgage stands can help you manage refinancing possibilities in the future.

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Pay Your Mortgage

In just a few taps, you can pay your mortgage or even set up a recurring payment so you can focus on what matters most.

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Make an Additional Mortgage Payment

Make an extra principal-only payment on your mortgage so you can pay your loan off faster.