Living in a non-metropolitan area could provide you with more benefits than more available land. The U.S. Department of Agriculture provides a great mortgage program making it possible for families to own a home. This mortgage program is one of the most overlooked yet beneficial programs for homebuyers. In short, eligible borrowers do not have to put money down on a home and they can secure low interest rates. In addition, the … [Read more...]
What are the Hardest USDA Loan Restrictions to Meet?
USDA loans are not a widely known product, but they should be because they offer borrowers a multitude of benefits starting with a zero percent down payment! The problem is that there are specific restrictions you must meet in order to qualify. The no down payment and ability to finance the mortgage insurance right into the loan is a great way to afford a USDA loan, but getting into one could be a different story. The hardest … [Read more...]
USDA Applicant Eligibility Requirements
If you prefer to live in a rural area, you might be lucky enough to qualify for USDA financing. The USDA applicant eligibility requirements are fairly relaxed and enable low to moderate income families to qualify for flexible financing that is affordable. Aside from the home needing to be located within the rural boundaries, there are certain requirements that every applicant must meet. Income Requirements The largest USDA applicant … [Read more...]