USDA Loans
A USDA loan provides many options for borrowers. This type of loan reduces costs for homebuyers in rural and suburban areas. It is one of the most cost-effective loan pro-grams that exists in today’s marketplace. USDA home loans are available to borrowers who meet income and credit standards. The most important requirement of a USDA loan is that the property must be located in a USDA-eligible geographic area.
Program Highlights:
- 100% Financing
- Annual Guaranty Fee Paid Monthly
- $ 417,000 Maximum Loan Amount
- Properties Limited to 1 Unit, Non-Farm, Primary Residences
- 6% Limit on Seller Concessions
- No Financial Reserves Required For 1 Unit Properties
- 102% Maximum Loan-To-Value*
- Closing Costs Can Be Financed