Special Financing Programs

Easy and affordable ways to make homeownership a reality
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Our Special Financing Programs provide affordable homeownership opportunities which in turn creates thriving communities and improves the quality of life in rural areas. The USDA loan options help many first-time buyers and low-to-moderate income families make homeownership a reality.

Special Financing Programs
Made Easy

We are your experts when it comes to home financing options. Contact us today to find out more information and to see if you qualify for one of our Special Financing Programs!

See if you qualify

Granite Ridge Builders has been one of the best companies we have ever worked with. Being new homeowners and first-time builders, we had no idea what to expect for the process and of course had so many questions. Every person we have worked with at Granite Ridge Builders has been patient, kind, understanding, and extremely helpful in each step of the homebuilding process. We would highly recommend them to anybody in the area that is ready to build a home!

Haley Dey | Avilla, IN

The communication was absolutely phenomenal! There was not one time when I questioned what was going on with our home construction. Our team treated us like family and not just another customer. We would not hesitate to build with Granite Ridge Builders again!

Liz Martin | Roanoke, IN

There’s a reason so many people select Granite Ridge Builders to build their home. They take care of their customers from the time they walk in the doors to the time they hand over the keys. Their staff is friendly, knowledgeable and care about every detail of the home selection process. You will not find a home builder you could entrust to build your dream home more than Granite Ridge Builders.

Rose Balgavy | Fort Wayne, IN

Just moved into our new home! Every step of the process was great. Everyone from Granite Ridge Builders were an absolute joy. We could not be happier!

Darren Crandell | Roanoke, IN

Jeff, the project manager was amazing. He kept me in the loop everyday, and I felt like I always knew what was happening in my home. He was always honest and on top of things. He took care of my home as if it were his own.

Lauren Cochran | Churubusco, IN
USDA Home Loan Program
What is a USDA Loan?

USDA loan programs provides homeownership for many who otherwise may not be able to qualify for home financing. A USDA loan is a home loan that is guaranteed by the United States Department of Agriculture. It offers very low and competitive interest rates on home loans to borrowers with no down payment requirements.

USDA Loan Qualifications

A great benefit of the USDA home loan is you don’t need perfect credit. A borrower’s credit may have blemishes from collections or previous late payments. For others, it may be a complete lack of credit or no active credit accounts. Having a credit score of 640 or above usually helps eligible borrowers secure the best rates with zero down payment.

USDA Loan Benefits

The USDA home loan has many benefits for rural homebuyers. Being able to secure financing without a down payment is among the major advantages to first-time homebuyers wishing to use a USDA home loan. The USDA home loan is one of the last remaining mortgages in the U.S. that does not require a down payment.

USDA Home Loan Program
Advantages & Benefits
Low mortgage insurance

Unlike other loan types, USDA loans don't have private mortgage insurance (PMI). USDA loans have the lowest funding fee of all government-backed loans.

Flexible Credit Requirements

There is no minimum credit score for USDA loans; however, a score of 640 or higher will speed up the application process.

$0 Down Payment

No down payment is required for a USDA loan. Obtain 100 percent financing without having to spend years saving for a down payment.

Competitive interest rates

USDA loans are made affordable through very competitive fixed interest rates. The low interest rates make it a good time to purchase a home.


Thinking about buying your first home? The home buying process is simpler than you might think. Call us today to see if you qualify for our Special Financing Programs available to first-time homebuyers.

USDA Loan Programs

First-Time Homebuyers and USDA Home Loans

Types of USDA Loans

The United States Department of Agriculture (USDA) offers two different types of home loan programs. Income and household size typically determine which program works best for the applicant. Competitive and/or below market interest rates, minimal closing cost, and longer mortgage terms provide opportunity and affordability for many homeowners utilizing these programs. These loans are restricted to rural areas. Read below to find out more information about each loan program and see which program works best for you.

502 Direct
USDA Loans

502 Direct USDA Loan: USDA funds the borrowers of these loans directly. These loans usually favor low-income and very-low-income individuals or families who can’t access any other type of financing for an adequate residence. Qualifying borrowers’ income must fall at or below the low-income limit in a designated area as defined by USDA. With subsidies, interest rates can be as low as 1%, based on the adjusted household income.

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USDA Loans

Guaranteed USDA Loan: USDA partners with local lenders to offer guaranteed loans. Guaranteed means USDA insures a portion of the mortgage in the event you default on your loan. Therefore, these lenders tend to feel comfortable offering modest loan terms to low-income individuals with less-than-favorable credit scores. These types of loans typically suit low- or moderate-income borrowers. To be eligible for a guaranteed USDA loan, your adjusted household income can’t exceed more than 115% of the median family income in the designated rural area you wish to live in.

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Contact us today to begin the application process and see if you qualify for one of the USDA home loan programs!