USDA 100%

USDA Mortgages are one of the last 100% financing options available. If you live in a rural or small town you may just be able to qualify for a not so well known mortgage offered by the United States Department of Agriculture. This government guraranteed loan will allow you to finance 102% of the purchase price of your new home. The 2% represents the USDA's guarantee fee that allows you to not have mortgage insurance. USDA loan rates are are low and usually lower than or equal to conventional or FHA rates. The best part is no mortgage insurance.

There are two kinds of USDA loans available. One is for low income where the payments are partially subsidized and the middle income program where no part of the payments are subsidized. The income limits are determined by the number of family members and vary from county to county.

You would be amazed at all the places that actually qualify for USDA loans. If you would like to learn more about this amazing mortgage program feel free to contact us today.