USDA Loans for Rural Property
Are you interested in moving your family to the quiet of the country or are already enjoying the pastoral life? Then a USDA loan might be the perfect solution for your voyage into the rural areas of the country!
Contact me today and I will assist you in researching the eligibility requirements in your area.
What are USDA Loan Benefits?
- Down payment is not required. A borrower can finance up to 100 percent of the appraised home value.
- The thirty-year fixed interest rates are competitive. With the government’s guarantee, lenders are able to offer low interest rates to qualified applicants.
- The credit guidelines are flexible. The flexible credit guidelines allow applicants with bad credit to still qualify for a loan.
- There is no maximum purchase limit. The maximum loan amount is determined by the lender based on the applicant’s ability to pay.
- Home repairs can be included in the loan. If a borrower’s home requires improvement, extra funds may be included in his home loan. The extra funds will be used to pay for the necessary home repairs.
Are you Eligible for a USDA Loan?
- Income: Applicants must have an adequate and dependable income, an adjusted annual and a household income that does not exceed the moderate income limit established for their area.
- Credit History: Credit history must show history of ability to pay monthly obligations.
- Citizenship: Applicants must also be a U.S. citizen, qualified alien, or be legally admitted to the United States for permanent residence.
I can assist you in researching the eligibility requirements in your area, just give me a call today.