USDA is mortgage program like FHA and VA with a couple differences.
1) The home has to be located in a "rural" area in order to qualify.
2) You have to qualify under the county income limits.
The best thing about the USDA program is it doesn't require a down payment.
One of the best things about the USDA program is the monthly mortgage insurance is substantially cheaper than FHA or conventional options.
For example: On an FHA loan of $150,000, the MMI (monthly mortgage insurance) would add $168.75 to your monthly payment but on a USDA mortgage it would only add $62.50!
The other nice thing is USDA will actually allow you to roll in your closing costs as long as the appraised value supports it.
Take a look at the recommendations from some of my past clients on my Trulia profile by clicking the link below my phone number.
Please feel free to contact me for more information or help.
Senior Mortgage Banker
Lending in ALL 50 states
Great Plains National Bank
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I have found the neighbors are happy to give their opinions and insight. As an agent, I appreciate all the information I can get to provide my clients. Be respectful and kind when sharing. The clients and agents can then check out the information.
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