USDA Rural Housing Loans Are Still Available With the changes in the mortgage industry over the last several years, basically all but one 100% financing loan program have been eliminated. The current rate on the USDA loan is around 5.25% with NO monthly mortgage insurance. This gives a lower payment than the FHA loan with 3.5% down at the same loan amount and interest rate. Listed below … [Read more...]
100% Financing USDA Home Loans
The USDA home loan is definitely an underutilized loan in Arizona. We have many areas around Phoenix that are an easy commute to Phoenix. The biggest areas for USDA are Buckeye, Gilbert, Queen Creek and North Phoenix (including Anthem). 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 … [Read more...]
USDA Loans: 5 Reasons You Will Love The USDA Loan Program
I am working with a client who is buying a house in Queen Creek and he asked me "why doesn't everyone know about USDA loans?" Good question. Here are just a few of the reasons that USDA loans are quickly becoming a loan program that people love to use. USDA Loans: A True 100% Home Loan With the USDA loan program, no down payment is required and you are able to finance up to 102% of the … [Read more...]
USDA Loans: Highlights of the USDA Loan Program in Arizona
When FHA made the move to outlaw seller contributed gift funds, the USDA loan program became one of the two programs of choice for buyers looking for 100% financing (VA being the other). Some of the highlights of the USDA loan program include: No down payment - true 100% financing No monthly mortgage insurance No cash reserves required No asset limits: you may keep liquid cash savings … [Read more...]