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USDA Loans in Bethesda, MD



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What are USDA Home Loans in Bethesda, MD?

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The USDA Home Loan program is a government-backed mortgage program that helps low-to-moderate income families,who meet certain USDA loan qualifications, purchase homes in rural and suburban areas. The program provides affordable financing options, including USDA house loans with no down payment requirements and lower interest rates, and even USDA construction loans. The loans are made through private lenders and are insured by the U.S. Department of Agriculture (USDA). To be eligible for the USDA home loan program or USDA mortgage, you must meet certain income and credit requirements and the property you want to purchase must be located in a designated rural area.

Advantages of USDA Home Loans in Bethesda, MD

The USDA Home Loan program offers several advantages to eligible borrowers,including USDA loan rates, USDA mortgage loans, and USDA rural housing loan.

  • No down payment: USDA Home Loans allow you to finance 100% of the home’s purchase price, which means you don’t need to save for a down payment.
  • Low interest rates: The interest rates on USDA Home Loans are often lower than those of traditional mortgages, making them more affordable.
  • Access to rural areas: The USDA Home Loan program allows low-to-moderate income families to purchase homes in rural and suburban areas that may not be accessible through traditional mortgage options.
  • Flexible credit standards: USDA Home Loans have more flexible credit standards compared to conventional loans, making them accessible to a wider range of borrowers.
  • No mortgage insurance: Unlike other low down payment mortgage programs, USDA Home Loans do not require private mortgage insurance (PMI), which can add to your monthly mortgage payment.
usda mortgage loans Bethesda, MD

Boris Cherner Mortgage Lender

Purchasing or refinancing your home is a complex undertaking that involves a number of participants and variables. I have been in the mortgage industry since 1997 and I understand the anxiety that comes with making the most expensive investment of a lifetime. My objective is to be your advisor, to educate you and to make the mortgage loan transaction as transparent and as stress-free as possible. I enjoy establishing personal connections and work mostly by referral. I thoroughly explain the process and available options, and guide my clients to make choices that best fit their needs and financial goals. Once the underwriting begins I communicate regularly and keep my clients apprised of the loan status from the beginning through the end. My relationship with clients does not end at the closing table. You are my client for life and I am always available to answer your questions and provide you with guidance.

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Here are some of the cons of USDA Home Loans in Bethesda, MD:

  • Location restrictions: To be eligible for a USDA Home Loan, the property must be located in a designated rural area. This can limit your options when it comes to choosing a home.
  • Income restrictions: USDA Home Loans have income restrictions, so even if you meet the other eligibility criteria, you may not be able to get a loan if your income is too high. 
  • Upfront fee: USDA Home Loans require a 1% upfront fee, which is a percentage of the loan amount and can add to the cost of the loan. The upfront fee can be financed with the loan..
  • Annual fee: USDA Home Loans require a 0.35% annual guarantee fee, based on the remaining principal balance each year.
  • Time-consuming process: The USDA Home Loan application process can be time-consuming, as there are several steps involved, including a property appraisal and review by a USDA-approved lender.
  • Limited loan options: USDA Home Loans are only available for 30-year fixed-rate mortgages. If you’re looking for an adjustable-rate mortgage or a shorter loan term, you may need to look at another type of a loan..
  • Property restrictions: The property must meet certain conditions and standards, including a requirement for a safe and sanitary living environment, to be eligible for a USDA Home Loan. If the property does not meet these standards, you may need to make costly repairs before you can purchase the home and move in.

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Here are the general requirements for a USDA Home Loan in Bethesda, MD:

  1. Location: The property must be located in a designated rural area.
  2. Income: Borrowers must meet specific income limits based on the location of the property and the size of the household,complying with USDA rural development loan eligibility.
  3. Credit: Borrowers must have a good credit history and score.
  4. Employment: Borrowers must have a stable, reliable source of income.
  5. U.S. Citizenship: Borrowers must be U.S. citizens or eligible non-citizens, meeting USDA home loan requirements.
  6. Property: The property must be a single-family home, in good condition, and must meet certain health and safety standards.
  7. Debt-to-income ratio: Borrowers must have a debt-to-income ratio that meets the USDA’s requirements.
  8. Savings: Borrowers must have sufficient savings to pay for closing costs and any necessary repairs to the property. 
  9. Insurance: Borrowers must have homeowner’s insurance and be current on any existing loans or debts.

It is important to note that these are general requirements, and there may be additional criteria depending on the lender and the loan program. To determine if you are eligible for a USDA Home Loan, it is best to contact a USDA-approved lender and provide them with your specific information and circumstances.

How to Apply for a USDA Loan in Bethesda, MD

The steps to apply for a USDA Home Loan are very similar to the steps in for other programs:

  1. Determine eligibility: Check to see if you and the property you want to purchase meet the USDA’s eligibility requirements. 
  2. Find a USDA-approved lender for the usda LOAN lender: You can find a list of approved lenders on the USDA’s website or by contacting the USDA directly. 
  3. Complete a loan application: Submit a loan application to the USDA-approved lender. You will need to provide information about your income, assets, debts, and credit history. 
  4. Employment: Borrowers must have a stable, reliable source of income.
  5. Provide documentation: The lender will need to verify the information you provided on your loan application. This may include proof of income, tax returns, pay stubs, bank statements, and other financial information.
  6. Find a property: Work with a real estate agent to find a property that meets the USDA’s eligibility requirements and is within your budget. 
  7. Get a property appraisal: The lender will order property appraised to ensure that it is worth the amount you are borrowing.
  8. Close the loan: Once the appraisal is complete, the lender will finalize the loan and disburse the funds to purchase the property.

Reviews about USDA Loans in Bethesda, MD

15:50 08 Sep 23
Boris was great to work with and always available.
Chris NChris N
17:27 30 Aug 23
Boris is my go-to guy when I need to get a loan. He was highly recommended in one of the professional forums.When the rates went down and his organization's policy did not allow the rate adjustment, he put my best interest first and let me know that I could look at other options outside. That's when I knew that he would do what was best for his customers.In my recent complex loan, Boris was a problem solver and guided me through a successful closing. He is very knowledgeable and quick to respond. I have recommended him to all my friends and contacts.
Rubén Meana PañedaRubén Meana Pañeda
11:04 05 Jul 23
Boris was recommended to us by some neighbors. We refinance our house mortgage with him and the experience was great. He help us on all the steps along the way and he is always eager to give us good advice. We recommend him and we will keep using his services in the future.
Julie GuffeyJulie Guffey
23:37 17 Apr 23
Recommended by a close friend of mine, I reached out to Boris for assistance in purchasing a home. I was impressed from the first time we spoke. His knowledge and professionalism exceeds any expectations I had. Boris was quick to respond, answer any questions, and be there whenever I needed him throughout the entire process. He did everything for me possible which made the process simple for me. I would recommend Boris to anyone! He is reliable, trustworthy and exceptional in his field!
Jay StrongJay Strong
15:11 27 Mar 23
Boris helped me buy two homes and refinance one. He is both professional and competent. Most important of all, he is an honest man. I highly recommend using him!
prathap prabakarprathap prabakar
18:52 08 Mar 23
Davy ChienDavy Chien
16:50 04 Mar 23
Boris is very professional and get our loan refinanced done on time and easy
Laxman PaladuguLaxman Paladugu
18:56 01 Mar 23
Boris is one of most experienced and knowledgeful mortgage professional. In my refinancing process he explained each and every step very clearly and supported me in complete process with 100% transparency. I would work with him again and recommend to others!
David KleinDavid Klein
17:29 01 Mar 23
Boris was recommended to me a couple years ago by my daughter. He was exceptionally easy to work with and kept us informed every step of the way. When interest rates went down .5 he recommended a streamline refi. Which was even easier. I strongly recommend Boris if you are looking for a loan, VA or otherwise.
PJ HamidiPJ Hamidi
22:10 11 Dec 22
I've had excellent experiences with Boris, both on the refinance side and the new home mortgage side. He has always been very responsive, patient, clearly communicative, informative, and able to provide the most competitive rates. I'd highly recommend working with him.
Adrian PirvuAdrian Pirvu
16:57 11 Dec 22
Boris is an absolutely exceptional Mortgage Banker! He has helped me through two mortgage refinances and my father-in-law through one. Because I had such a great experience with him through my first refinance, I specifically sought him out when I was looking for my second and when my father-in-law was looking to complete his. Boris goes above and beyond for his clients and he always ensures that their best interests are the top priority.You will not find a better Mortgage Banker than Boris!
Mukul MehtaMukul Mehta
03:36 09 Dec 22
Boris is one of the most seasoned and experienced mortgage professional I have ever worked with. He patiently explained to me the mortgage refinance process, answered every question I had in detail and never pressured me to make a decision. He is equally great with paper work and ensuring the mortgage process completes on time without any issues. I will highly recommend Boris Cherner whether you are a first time home buyer or refinancing your property.
Gene KGene K
21:16 08 Dec 22
Boris was a wonderful person to work with during my first home-buying experience. He got me the best rates while also being incredibly patient and supportive, educating me and guiding me every step of the way. He let me know exactly what to expect and there were no surprises at any point during the purchase and lending process. He made sure the process was smooth and painless, and was constantly in touch from start to end so things could move along. I highly recommend Boris!
Clement JosephClement Joseph
19:46 08 Dec 22
I have refinanced my home loan 2 times with the help of Boris. He is such a patient person who is never tired of answering your queries.He also knows the stuff he's doing.I had recommended Boris to atleast 15 people in my community and everyone got the best support
Anya ChugunovaAnya Chugunova
19:37 08 Dec 22
I worked with Boris and his team on mortgage refinance of my home. The level of care, attention to detail, and professionalism demonstrated by Boris far surpassed my expectations. I really appreciated his knowledge, honesty and transparency throughout the mortgage refi process. Boris stays on top of every detail and is there for you every step of the way to answer any questions and address any concerns. I highly recommend Mr. Cherner and his team for all your mortgage needs!! A++++++
Abdul KhanAbdul Khan
19:09 08 Dec 22
I have had the pleasure of working with Mr. Cherner for the home mortgage needs, and the satisfying experience leading to recommend my two other friends - who also had similar thoughts and an enjoyable experience. What stood out to me was his advise on getting the best rates, but also hand-holding at every step on the documentation needs (which becomes overwhelming). If you are in the market looking for for experience and good value, reach out to Boris. I hope you will not be disappointed.
sangrae josangrae jo
15:17 30 May 22
I was lucky enough to meet Mr. Boris in my real estate investment journey during the last 5 years. I worked with him for my 3rd primary residence refinance loan and 4th primary residence loan. I had excellent outcomes from both. I am very happy with that and definitely, I really want to work with him for my future homes for sure.As a customer, I always think communication is the top priority. Whenever I had some questions and needed some advice on my loan options, he was always there and answered quickly within an hour during business hours. Last time, I had some emergency matter during weekends with my loan and he definitely spent his off-duty time for helping me out. I am so sorry about that sincerely.With that being said, he is a very professional and subject matter expert. He always had many options and guided me with the best option in my situation. Also, his loan rate is very competitive to other loan companies. It tremendously supported my real estate investment journey.

Apply for a USDA Loan in Bethesda, MD

usda loans requirements Bethesda, MD

This is a general overview of the requirements and the process for applying for a USDA Home Loan. The specific steps, documentation and timeline may vary depending on the lender and the loan program. It is important to work with a USDA-approved lender who can guide you through the process and help you understand all of the requirements and steps involved. It is also important to compare lenders, their rates and fees. Please reach out to me for current interest rates and additional guidance at 312-296-4175 or email me, Boris Cherner mortgage lender in Bethesda, MD, at Additionally, I offer a variety of mortgage options to suit your needs, including adjustable-rate mortgages, FHA loans, fixed-rate mortgages, VA loans, temporary rate buydown, portfolio lending and more. I lend in all 50 states and I am never too busy for your referrals!!

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FAQ about USDA Home Loans in Bethesda, MD

How to get a USDA loan in Bethesda, MD?

The process for getting a USDA loan is the same as the process of getting any other type of a mortgage loan. First step is to identify a lender that has experience working with USDA mortgage loans. Second step is to fill out a mortgage loan application and provide all supporting income and asset documentation. Your loan file will then go through processing and underwriting, after which you can close on the loan and become a homeowner.

How does a USDA loan work in Bethesda, MD?

To be eligible for a USDA Home Loan, the property must be located in a designated rural area. USDA Home Loans have income restrictions, so even if you meet the other eligibility criteria, you may not be able to get a loan if your income is too high. USDA Home Loans require an upfront fee, which is a percentage of the loan amount.

What areas qualify for USDA loans in Bethesda, MD?

The USDA Home Loan program is designed to promote homeownership in rural and suburban areas. To determine if a specific property is eligible for a USDA Home Loan, you can use the USDA’s eligibility map, which outlines the areas that are eligible for the program. Eligibility is determined by the property’s location and the population density of the area.

Do USDA loans require a down payment in Bethesda, MD?

USDA Home Loans are designed to help low-to-moderate-income families purchase homes in rural and suburban areas. One of the main benefits of USDA Home Loans is that they do not require a down payment, which can be a significant financial barrier for many families.

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