The USDA home loan is definitely an underutilized loan in Arizona.
Many people think you have to live in the sticks in order to get a USDA loan, but this is not true. Did you know that even Seville Golf and Country Club in Gilbert is eligible for USDA? That’s right the only private golf club in Gilbert is USDA eligible.
Not only is USDA 100% financing but it also has NO monthly mortgage insurance. Depending on your loan amount this alone could save you over $100 per month when compared to an FHA loan.
The interest rates for USDA are also comparable to FHA.
Another huge benefit is the ability to roll the closing costs into the loan if your home appraises for more than the purchase price.
You can also escrow for repairs if the home is in need of a rehab. There is no other loan that offers all of these befits and capabilities into one loan.
Combine a 100% USDA loan with the $ 8000 tax credit….. now that’s a smokin’ deal!
Want more information on USDA loans?
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