Daryle Evans Mortgage Lender
Vice President
Mortgage Loan Originator, NMLS # 264599
How USDA loan programs work
There are three USDA home loan programs:Loan Guarantees
The USDA guarantees a mortgage issued by a local lender just like a FHA or VA-backed loans. This allows you to get low mortgage interest rates, even without a down payment. If you put little or no money down, you will have to pay a mortgage insurance premium.Direct Loans
Issued directly by the USDA, these mortgages are for low and very low-income applicants. Income thresholds vary by region. With subsidies, interest rates can be as low as 1%.Home Improvement Loans and Grants
These are loans or outright financial grants to homeowners to repair or upgrade their homes. Packages can also combine a loan and a grant, providing up to $27,500 in assistance.Qualifying for a USDA Backed Mortgage Guarantee
Income and household size affect qualification and vary by location. To find the loan guarantee income limit for the county where you live, consult this USDA Eligibility Site. USDA guaranteed home loans are only for owner occupied primary residences. Other eligibility requirements include: • U.S. citizenship (or permanent residency) • A monthly payment that includes principal, interest, insurance and taxes that’s 29% or less of your monthly income. Other monthly payments cannot exceed 41% of your income. The USDA will consider higher debt ratios if you have a credit score above 680. • Dependable income for a minimum of 24 months • An credit history, with no accounts converted to collections within the last 12 months, among other criteria. If you can prove that your credit was affected by circumstances that were temporary or outside of your control, including a medical emergency, you may still qualify. • Applicants with credit scores of 640 or higher receive streamlined processing. Those with scores below that must meet more stringent underwriting standards. Those without a credit score, or a limited credit history, can qualify with “nontraditional” credit references like rental and utility payment histories. Here is the USDA's Eligibility Site where you can enter a specific address for eligible areas.USDA Loans
NMLS Consumer Access
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A
COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR
SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE
TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING
2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705.
COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINTED
FROM THE DEPARTMENTS WEBSITE AT WWW.SML.TEXAS.GOV. A
TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-
5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO
MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET
DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF
LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A
WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE
RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY
THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR
MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE
CONSULT THE DEPARTMENT’S WEB SITE AT
WWW.SML.TEXAS.GOV.
Daryle Evans, NMLS #264599
President
Mortgage Loan Originator
208 Buckskin Drive
Waxahachie, TX 75167
Cowtown Lending Services, LLC.
NMLS #2395734
Would you like to discuss your mortgage with me?
All consultations are NO CHARGE and NO OBLIGATION.
LOAN TYPES
• VA Loan s • FHA Loans • Home Equity Loans • Conventional Loans • USDA Loans • Reverse Mortgage • Refinancing • Self Employed Borrowers Loans
Low Rates No Hassle
We serve the following cities and surrounding areas:
Cedar Hill, Arlington, Mansfield, Midlothian, Waxahachie, Granbury,
Alvarado, Burleson, Cleburne, Ennis, Kaufman, Red Oak, Desoto,
Melissa, Allen, Fairview, Plano, Lucas, Princeton, Farmersville, Murphy,
Wylie, Rockwall, Rowlett, Royse City, Fate, Caddo Mills, Argyle, Haslett,
Keller, Saginaw
We have moved from 10185 Custer Road Suite 300 Plano TX 75025
to
208 Buckskin Drive Waxahachie TX 75167
LOW RATES
LOW FEES
FAST CLOSING
FREE PRE-APPROVAL
Daryle Evans Mortgage
Lender
Vice President
Mortgage Loan Originator, NMLS
# 264599
How USDA loan programs
work
There are three USDA home loan programs:Loan Guarantees
The USDA guarantees a mortgage issued by a local lender just like a FHA or VA-backed loans. This allows you to get low mortgage interest rates, even without a down payment. If you put little or no money down, you will have to pay a mortgage insurance premium.Direct Loans
Issued directly by the USDA, these mortgages are for low and very low-income applicants. Income thresholds vary by region. With subsidies, interest rates can be as low as 1%.Home Improvement Loans and
Grants
These are loans or outright financial grants to homeowners to repair or upgrade their homes. Packages can also combine a loan and a grant, providing up to $27,500 in assistance.Qualifying for a USDA Backed
Mortgage Guarantee
Income and household size affect qualification and vary by location. To find the loan guarantee income limit for the county where you live, consult this USDA Eligibility Site. USDA guaranteed home loans are only for owner occupied primary residences. Other eligibility requirements include: • U.S. citizenship (or permanent residency) • A monthly payment that includes principal, interest, insurance and taxes that’s 29% or less of your monthly income. Other monthly payments cannot exceed 41% of your income. The USDA will consider higher debt ratios if you have a credit score above 680. • Dependable income for a minimum of 24 months • An credit history, with no accounts converted to collections within the last 12 months, among other criteria. If you can prove that your credit was affected by circumstances that were temporary or outside of your control, including a medical emergency, you may still qualify. • Applicants with credit scores of 640 or higher receive streamlined processing. Those with scores below that must meet more stringent underwriting standards. Those without a credit score, or a limited credit history, can qualify with “nontraditional” credit references like rental and utility payment histories. Here is the USDA's Eligibility Site where you can enter a specific address for eligible areas.USDA Loans
HOME LOAN
TYPES
• VA Loans • FHA Loans • Home Equity Loans • Conventional Loans • USDA Loans • Reverse Mortgage • Refinancing • Self Employed Borrowers Loans
NMLS Consumer Access
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL
MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO
THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING 2601 NORTH LAMAR,
SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE
OBTAINTED FROM THE DEPARTMENTS WEBSITE AT WWW.SML.TEXAS.GOV. A TOLL-FREE
CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A
RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES
SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIAL MORTGAGE
LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE
RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR
TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND,
PLEASE CONSULT THE DEPARTMENT’S WEB SITE AT WWW.SML.TEXAS.GOV.
Daryle Evans, NMLS #264599
President
Mortgage Loan Originator
208 Buckskin Drive
Waxahachie, TX 75167
Cowtown Lending Services, LLC.
NMLS #2395734
We serve the following cities and
surrounding areas:
Cedar Hill, Arlington, Mansfield,
Midlothian, Waxahachie, Granbury,
Alvarado, Burleson, Cleburne, Ennis,
Kaufman, Red Oak, Desoto, Melissa,
Allen, Fairview, Plano, Lucas, Princeton,
Farmersville, Murphy, Wylie, Rockwall,
Rowlett, Royse City, Fate, Caddo Mills,
Argyle, Haslett, Keller, Saginaw
We have moved from 10185 Custer Road Suite 300 Plano TX 75025
to
208 Buckskin Drive Waxahachie TX 75167
LOW RATES
LOW FEES
FAST CLOSING
FREE PRE-APPROVAL
THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN
ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF
LICENSED RESIDENTIAL MORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR
REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED
BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION
ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT’S WEBSITE AT
WWW.SML.TEXAS.GOV
