Rural Development (RD) Loans

A USDA guaranteed Loan is government-insured 100% purchase loan. These loans are only offered in non-urban areas and serviced by direct lenders that meet federal guidelines.

USDA Loans – They’re NOT for Farmers!

A USDA home loan has nothing to do with agriculture. USDA Loans used to be considered “farmers loans” but that is simply not the case anymore. Just about anyone looking to purchase a home outside a major metropolitan area can qualify for a USDA Loan.

Some of the eligibility standards that determine if you qualify for a USDA loan for your home include what county and zip code the home resides in, your current income and credit history, as well as the number of dependents you can claim. Because these guidelines are very specific, Waterstone Mortgage can help you to determine your eligibility.

It’s simply a government insured loan program directed to families in qualifying rural areas of the U.S. – which generally include:

Communities outside of city limits
Communities with less than 20,000 people
You may be surprised to learn just how many areas of the United States qualify for these no money down, no mortgage insurance home loans.
The goal of the USDA loan program is to help our nation’s smaller, rural communities thrive by making land and property more affordable.

USDA Loan is the only loan program offered to the general that allows you to finance 100% of your home’s value. That means no down payment of any kind.
In addition, there is no monthly mortgage insurance payment with a USDA guarantee loan, which means more money can go to paying off the mortgage each month. USDA loans are made even more affordable through very competitive fixed interest rates, ensuring your payments will not increase every month.

NO down payment – Finance 100% of your home
NO monthly mortgage insurance
NO maximum loan amount
NO assets needed to qualify
Flexible credit guidelines
Competitive, fixed interest rates so payments do not increase
USDA Loans are for new and existing properties

Call us today to see if you qualify for USDA financing.

Thanks for installing the Bottom of every post plugin by Corey Salzano. Contact me if you need custom WordPress plugins or website design.

Share

No Comments on Nov 30th 2012

Leave a Reply