The USDA offers low and very low-income families a chance to become homeowners. Just like any other program, though, there are USDA loan restrictions you must know. They are nothing crazy and they do not prevent most people from securing a home loan. However, understanding the restrictions can help you make the most of your time searching for a loan. Citizenship is Important First and foremost, you must be a citizen of the United … [Read more...]
Preparing Yourself for a USDA Home Loan
USDA loans are from U.S. Department of Agriculture for rural housing development. This 100% financing loan is for below-average home buyers. The interest rate and mortgage insurance premium are less compared to the current market. People from rural and suburban areas are eligible for the loan. One of the main advantages of this loan is there is no down money. Though it is for the rural and suburban people but geographically 97% of … [Read more...]
No Down Payment Required for a USDA Loan
Are you thinking of buying a new home? Are you worried about coming up with enough money for a down payment? Well, with a USDA home loan you don’t need to worry and you can be on your way to a new home with no down payment. The USDA home loan program was designed to help people who have a low income, low or bad credit and no money to put down get into a home, the best part is, you don’t have to be a farmer to be qualified for a USDA … [Read more...]
