Benefits of the USDA Loan

By
Mortgage and Lending with Inlanta Mortgage of Madison NMLS ID #208789

Benefits of the USDA Loan

Many people are looking for ways to take advantage of the historically low mortgage rates.  Some of these individuals may not have quite enough for a 5% down payment on the home, yet they have other strong financial qualities.  For these people, the USDA home loan may be a great solution.

The USDA home loan is a loan guaranteed by the federal government.  These loans are designed for people with modest yet stable income.  A history of paying debts in a timely manner is also a strong asset for the borrower.  The income levels are calculated based on rules set forth by the USDA.

New homes, as well as existing homes, are both eligible for the program.  These homes must be located in rural areas as determined by the USDA field offices.  The loan amount can be 100% of the value of the property or the purchase price, whichever is less.  Best of all, the loan can include all of the necessary costs associated with purchasing a home.

This program is ideal for people with good credit and a solid employment who have not had the time to save for a large down payment.  With the available fixed interest rates, this could be a perfect way for new buyers to become homeowners. 

In order to find out if you meet the qualifications for the USDA Mortgage, contact me today!

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Michael Collins 09/27/2011 10:28 AM
Topic:
Mortgage / Finance
Location:
Wisconsin
Tags:
wisconsin usda rural housing
illinois usda rural housing
minnesota usda rural housing
florida usda rural housing
usda
rural housing loans

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Rainmaker
63,169
Michael Ford
Coldwell Banker Heritage Homes - Marion, AR

Dennis we use the program all the time in our Market.  It's a great problem and easy to work with I wish both the cities I worked in could use USDA but only Marion qualifies.  I glad they got their funding problem handled

Aug 02, 2010 12:10 PM #1
Rainer
66,947
Richard Thomas
Keller Williams Select Realtors - Dunkirk, MD

It's not a very well known program but it is a very good loan program. Thanks for the post.

Aug 02, 2010 12:20 PM #2
Rainmaker
289,741
Michael Collins
*ROCK REALTY|Broker|Realtor|Real Estate|WI Short Sale Agent* - Janesville, WI
CDPE, SFR , Wisconsin Short Sale Specialist Realto

This is a great option for Wisconsin home buyers to get a no-money down 100% financed mortgage loan!

Thanks Dennis!

Sep 27, 2011 10:30 AM #3
Rainmaker
126,255
Cory Kessenich
Inlanta Mortgage of Madison - Madison, WI
Wisconsin Mortgage Loan Officer

Michael, Agreed, the Wisconsin USDA mortgage is a great program for people without a down payment. Thanks for the comment!

Sep 27, 2011 12:12 PM #4
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Rainmaker
126,255

Cory Kessenich

Wisconsin Mortgage Loan Officer
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