Best USDA loan lender in South Carolina

In today’s world, a steady income and good credit may not be enough to qualify for a home loan. With that said, the Cain Mortgage Team offers a USDA home loan program that can assist most individuals and families in rural areas of Columbia, SC to become homeowners. Some of these areas include Blythewood, Lexington, and all of Kershaw County. Whether or not you can afford to make a down payment, the USDA home loan program was built to help moderate to low income borrowers qualify for a loan.

USDA loan South Carolina

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What is a USDA loan?

The primary goal of the United States Department of Agriculture (USDA) is to improve the market for Rural areas in the United States, and protect Lenders from those who default on their mortgage. The USDA loan is one of the top loans offered in the US and allows for 100% financing. David Cain has excellent rates for USDA loans in Lexington, Blythewood, Kershaw County and the entire State of South Carolina. For more information, use the Quick Quote form on the right or call us today at 803 261 9267.


USDA rural development South Carolina

A USDA Loan can be used for purchasing a home, streamlining your loan and even refinancing an existing home. Streamline loans reduce payments by lowering interest rates on your current loan. USDA Loans are great for people looking to buy a house in a rural area with no money down.

Why use USDA loans?

A USDA Loan allows for a no down payment option and lower credit scores compared to many other home loans. Borrowers might qualify for a USDA loan without any out of pocket expenses, and are a great choice for first time home buyers. USDA Loans require the property to be in an eligible area; to find out if a property qualifies, you can enter the address on this site or call your local Loan Officer to help. So, if you are looking in areas that are considered rural, have a score in the 600’s and your debt to income ratios are in line, a USDA Loan is a great option.

USDA loan requirements SC

  • Dependable and adequate family income
  • Moderate income limits for your specific area
  • Credit History which indicates a reasonable ability to pay.
  • U.S. Citizen, qualified alien or legally admitted to the United States
  • Minimum credit score is typically 660 but possible options down to 640

What are the Benefits of a USDA loan SC?

  • No Down Payment
  • Very Low Mortgage Rates
  • Annual mortgage insurance fee is just 0.50% annually
  • No specific loan size limitation
  • The only down payment required is for Earnest Money

USDA Mortgage Insurance Premiums

USDA Loans in Lexington, Blythewood, and Kershaw County have two types of Mortgage Insurance. These Mortgage Insurance types are the Upfront Premium and a Monthly Premium. However, the Upfront Mortgage Insurance is added into the loan amount and financed over the life of the loan. Additionally, the Monthly Premium is smaller than many other loans that don’t require a down payment or a small down payment. So, if you are looking in a rural area and are looking for 100% financing, don’t be deterred by mortgage insurance. For the right buyer, the benefit of 100% financing far outweighs the cost of mortgage insurance.

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Income Requirements

Income Limits


USDA Mortgage Lender

The Cain Mortgage Team is committed to assisting it’s clients with all of their USDA Home Loan needs in South Carolina! If you are a first time home buyer looking to purchase a new home or refinance, I can assist you. Don’t let the lack of a down payment be the reason you don’t buy a house. Contact David Cain at 803 261 9267 today for any questions that you have about USDA Loans in South Carolina. Call today to see if you qualify for a USDA Loan!

USDA loan South Carolina



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