Spring, TX -- (SBWIRE) -- 10/08/2015 -- Records indicate 1949 saw the launch of the USDA Rural Development Loan program. This year marks its 66th anniversary as well as bringing the home ownership dreams of more than 1 million families to fruition. On a more tumultuous note, the number of American citizens being denied for traditional home loans continues to rise on the waves of recent housing market wreckage.

In celebration of this Rural Housing Service milestone, spokesperson Gerry Nicodemus of AMCAP Mortgage - North Houston has launched a campaign to foster the loan project's efforts. Said Nicodemus, "The driving force behind USDA home loans is to help smaller communities within the USDA's specified areas flourish. They provide assistance for a number of intentions and cater to two specific branches of the population. Qualification requirements and approved regions for this type of loan are much less restrictive than many realize, and we'd like to help clear up the common misconceptions."

The USDA's RHS offers two distinct loan options. Direct loans are designed for families considered to fall into the low income bracket bringing in less than 80 percent of a given locale's Area Median Income. Guaranteed USDA Loans grant assistance to those whose household incomes range from 80 to 115 percent of the AMI. As a general rule, qualified applicants must hold a credit score of 640 with less than 30 percent of household income being allotted to mortgage loan payments each month.

Among the factors setting these types of financing apart from traditional varieties is down payment as none is required with a USDA loan. Though terms tend to hold a number of similarities to conventional loans, monthly payments are often lower for USDA borrowers. While no maximum loan amount has been established for those purchasing a home through this program, only 15 and 30 year fixed-rate options are currently being offered. Graphics show an estimated 95 percent of land in the United States is approved by the USDA under the RHS's ruling.

Concluded Nicodemus, "The USDA's approved areas have a far broader reach than most initially believe; at the same time, both low and moderate income families may qualify. We hope these facts as well as the more inclusive information on our website will encourage residents of our service area to contact us. We've helped a number of people who'd given up on their dreams of owning a home, and we look forward to continuing this tradition through these and other alternatives we offer."

About AMCAP Mortgage - NHB
AMCAP Mortgage is an affiliate of the Texas Department of Savings and Mortgage Lending focused on providing various home loan options to those in their area.