Below we have listed some quick facts and benefits of USDA Rural loans. 100% Financing - NO down payment. Approved buyers can borrow up to 102% with financing USDA Funding Fee. No First-Time Home Buyer Requirement - You … [Read more...] about Quick Facts About USDA Rural Development Loans
USDA Home Loan
The United States Department of Agriculture, the USDA, sponsors multiple programs designed to assist those living in rural areas. One of the more important programs is the program helps low to moderate income individuals buy and … [Read more...] about Where Can You Use a USDA Loan? You’ll Be Surprised
We often receive questions regarding how long does it take to close USDA loan? In this post, we will shed some light on the USDA mortgage closing process and the timelines involved. First, it's important to understand the USDA … [Read more...] about How Long Does It Take To Close USDA Loan?
Last year USDA Rural Housing reduced the upfront guarantee fee (also known as funding fee) charged on USDA housing mortgages. In addition, they also lowered the monthly mortgage insurance or "annual fee" thus saving home buyers a … [Read more...] about 2019 USDA Rural Development Guarantee Fee
Rural Housing / USDA made some recent adjustments to the allowable household income limits. The new 2019 USDA rural housing income changes will stay in effect through 2019 and open up the program eligibility to even more home … [Read more...] about New 2018 USDA Rural Housing Income Changes
USDA Rural Housing loans have two primary requirements buyers should know about. One is the amount of income a household may earn in order to qualify. The USDA loan income requirements are based upon the number of wage earners in … [Read more...] about How Does USDA Determine Eligible Areas?
The USDA home loan is one of the three current government-backed home loans. The other two are the VA loan and FHA program. They’re all considered government-backed because each provides some level of backing should an individual … [Read more...] about USDA Home Loan Process
It might sound a bit funny that the United States Department of Agriculture oversees a home loan program but it does, but why? The USDA loan does have a long history and has been referred to by other names over the years but today … [Read more...] about USDA Rural Housing Loan Background
Most USDA loans today require for a minimum credit score of 620 for approval. While that number isn’t a universal guideline most lenders and banks require this minimum. Some may even require a slightly higher score of a 640. … [Read more...] about USDA Loans and Credit Scores