The USDA offers a great program that provides assistance to very low-income families and elderly people to fix up their home. The financing program is available only to those who cannot qualify for decent financing anywhere else. There are two ways to use this program – loans and grants. The USDA provides the loans to pay for repairs and/or improvements. Grants are strictly used to remove any health or safety hazards and only pertain to … [Read more...]
USDA Home Repair Loans and Grants
The USDA Home Repair Loans and Grants, or Section 504 Home Repair Program, helps low-income families repair or even improve their home. You can use the funds to make the home safer, more sanitary, or to remove a hazard. Borrowers over the age of 62 that cannot repay the loan may receive grant funds rather than a loan on this program. Compare Offers from Several Mortgage Lenders. Keep reading to learn how the program works and how … [Read more...]
USDA RD Home Loan Programs
The RD Home Loan or the USDA Rural Development Loan offers a loan program for borrowers with low income and little to no money to put down on a home. The USDA loan provides borrowers with up to 100% financing, low costs, and payments low-income families can afford. Looking for Current Mortgage Interest Rates? Click Here. The USDA sets the guidelines for the RD home loan, but individual lenders write the loans. You’ll go through a … [Read more...]
Home Loans for People with Bad Credit
If you have less than perfect credit, you may wonder if you have a chance to secure a mortgage. Don’t you need perfect credit for lenders to approve your loan request? Looking for Current Mortgage Interest Rates? Click Here. Luckily, you don’t need perfect credit to secure a mortgage. The government-backed loan programs make it easy to secure the approval you need, even with bad credit scores. Just what credit scores do you need … [Read more...]
USDA Loan Refinance Options
Low to medium-income borrowers often benefit from the USDA loan program. With no down payment requirement and flexible guidelines, you can get the USDA loan with little money out of your own pocket. But what happens when you need/want to refinance? What options do you have? Looking for Current Mortgage Interest Rates? Click Here. The USDA Streamline Assist Refinance The USDA started a streamline refinance program, much like the FHA … [Read more...]
How Does the Farm Service Agency’s Down Payment Loan Program Work?
New farmers don’t have the luxury of having accessible farmland. They need capital, namely money. Of course, this is not easy, leaving many new farmers without land. There is financing available from the USDA in the form of Direct or Guaranteed loans, but you still need a down payment. Take a look at the Farm Service Agent’s Down Payment Loan Program to see if it is an option for you. What is the FSA Down Payment Loan … [Read more...]
Different Types of USDA Mortgage Loan Options
If you have the desire to live in a rural area, you may have the good fortune of being eligible for USDA financing. Before you head out and apply with a USDA lender, though, you should know the USDA loan options. They have three mortgage types they offer borrowers. Each program is for a specific type of borrower, though. You will not qualify for all three programs. We break down the programs and how they work below. The USDA … [Read more...]
What is the USDA Section 184 Loan Program?
The USDA Section 184 Loan Program began as a way to help Natives living on the Reservation. Because homes located on the Reservation are located on Trust Land, it makes them ineligible for most financing programs. HUD began the Section 184 program in 1992 in order to fix this problem. Today, it is possible for Natives of specific tribes to secure financing on land within the Reservation without issue. Qualifying for the Program The … [Read more...]
