USDA Rural Home Loans offer many advantages over either FHA Mortgage Loans or Conventional Home Loans. Here is a brief summary of advantages of the USDA Rural Home Loan.
- No Down Payment - Truly a 100% home loan
- No Expensive Mortgage Insurance – Keeps your monthly payment low
- No Cash Reserve Requirement
- No Minimum Credit History Requirement
- USDA 100% Financing is a top choice among First Time Home Buyers
- No Limitation to the purchase price
- May finance up to 102% of the appraised value
- Down Payment Assistance from non profits is acceptable
- Repairs may be financed up to 100% of the “as is” value
- No limits to the concessions the seller can make – seller paid closing costs
To qualify for a USDA loan, you must be meet certain income restrictions and your home must be located in a rural area. However, a rural area isn't just farm areas and small towns. To find the closest "rural" area to you, give us a call.
VanDyk Mortgage Corp - 10185 Custer Road., Suite 300 - Plano, TX 75025
Phone: 214.644.0610 Fax: 469.916.5779
Call us today to find out more!
Texas Mortgage Banker Registration 64874
NMLS 3035
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