USDA Purchase

The USDA purchase program is a great way for families or individuals to purchase their own home  who otherwise would not be able to purchase a home, bridging the affordability gap for homeownership. Below are a few facts about USDA loans that should help determine if the USDA Purchase program is your best option.

No Down Payment: USDA offers 100% financing allowing you to hang onto your money.

Zero Out of Pocket: USDA allows you to work your closing cost into the sales price making it possible in many situations to purchase a home with out any out of pocket expense.

No Mortgage Insurance: With a USDA loan you will never be required to pay mortgage insurance making your monthly house payment much lower than other high loan to value loans.

Property Improvements: For situations when the appraised value is higher than the negotiated sales price you may be able to make needed improvements as long as the improvement costs do not exceed the difference between the sales price and the appraised value.

Property Restrictions: The USDA offers financing for eligible Rural properties. To determine if a particular property is eligible Click Here

Income Restrictions: USDA loans are designed to help individuals and families with a low to moderate income levels. To determine the maximum income level for a particular area Click Here

To determine if your income and desired future home location qualify for this program either click on the links above or Contact Us today and one of our experienced Mortgage Professionals will gladly assist you.