USDA Home Loans

USDA Home Loans

For those of you who want to live in or near a rural area, then there is a great opportunity through our great government. The United States Department of Agriculture (USDA) Guaranteed Rural Housing (GRH) loan program offers a conventional 100% loan; meaning zero down payment! In addition, there is no requirement for mortgage insurance or cash reserves. USDA Home Loans are the way to go. Here are some of the benefits:
  • No first-time homebuyer requirements
  • Eligible in rural areas with a population of 20,000 or less
  • 103.5% loan to value financing (3.5% Guarantee Fee included)
  • No mortgage insurance needed
  • 30-year fixed rate
  • No financial reserve requirements
  • Income limitations vary per applicable city or area
  • Seller can contribute up to 6% of the sales price towards your closing costs 
While USDA home loans have no monthly mortgage insurance (insurance collected to protect the lender), there is a one-time, upfront 'guarantee' fee that can also be financed into the loan, thus bringing the loan amount to 102% of the home cost.

However, there are certain specific requirements for this loan, both for the borrower and for the location of the property. The borrower must not have the means for the down payment on a regular conventional loan, and the borrower must plan to occupy the property. You do not need to be a first-time homebuyer. Your income cannot be above 115% of the U.S. median income, adjusted by family size.

This is a great opportunity you can't miss. The Mortgage Lender in North Carolina can service all of your mortgage needs . Start the process and find out your options for a USDA home loan today.

Comments

  1. Shane CastaneFebruary 18, 2013 at 3:25 AM

    A few credit problems usually will not prevent you from getting approved for a loan though it may be more difficult. If your rating is low, you can work on getting it up over the next few months to a year. Pay off any outstanding debts like vehicle loans and credit cards. Hawaii mortgage loans will work in your favor.
    Check your credit report for any errors and correct them. You are allowed one free credit report from each of the three major credit bureaus once a year. This enables you to keep track of your credit rating.

    ReplyDelete
  2. Putri AdiratnaaDecember 20, 2019 at 7:26 AM

    Loan Opportunity Offered By Mr, Benjamin That Save My Family From Financial Bondage {lfdsloans@lemeridianfds.com}

    Hello Everyone, I am Putri Adiratnaa single mom from Jakarta, I would like to share this great testimony on how I got a loan from Mr, Benjamin, when we were driven out of our home when I couldn't pay my bills anymore, After being scammed by various companies online and denied a loan from my bank and some other credit union I visited. My children were taken by the foster care, I was all alone in the street. The day i shamefully walked into an old school mate who introduced me to Daisy Maureen. At first I told her that I am not ready to take any risk of requesting a loan online anymore, but she assured me that I will receive my loan from them. On a second thought, due to my homelessness I had to take a trial and applied for the loan, luckily for me I received a loan of $80,000.00 from Mr, Benjamin. I'm happy I took the risk and applied for the loan. My kids have been given back to me and now I own a home and a business of my own. All thanks and gratitude goes to Le_Meridian Funding Service and for the help of Mr, Benjamin for giving me a meaning to life when i had lost all hope. If you currently seeking for a loan assistance, you can contact them via: {lfdsloans@lemeridianfds.com} Or WhatsApp +1-989-394-3740

    ReplyDelete

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