Let Stop Renting LLC show you how to take advantage of 100% financing and affordable rates through a USDA Rural Housing Loan.
As a low- to middle-income homebuyer, a USDA Rural Housing Loan is a mortgage option well worth considering. At Stop Renting LLC, our loan experts can help you to uncover the benefits and qualifications for this home loan and determine whether you qualify.
Backed by the U.S. Department of Agriculture, USDA loans are part of the USDA Rural Development Guaranteed Housing Loan Program. The loans are available to homebuyers in rural or low-income areas who fall in the low to average income range for their specific area. Individuals who thought they would be unable to qualify for traditional loans are often able to receive financing through USDA loans.
Outside of loans available to people who have served in the military, the USDA Rural Housing Loan is the only mortgage option featuring “zero-money down.” If eligible, you will not find a home loan program with more favorable terms than a USDA home loan. While the language includes “rural,” some suburban homebuyers may qualify. In fact, 97% of the U.S. is in a territory that is loan-eligible. Our mortgage counselors at Stop Renting LLC can help you to determine if you meet the loan’s qualifications.
USDA Rural Housing Loans function by connecting qualifying homebuyers with $0 money down loans with a competitive interest rate. Features of the loan include:
It’s essential to keep in mind that the property must also meet specific qualifications. While the home doesn’t necessarily need to be in a rural area, the property must be in an area that is considered low-income and must meet basic requirements, including standards for the home’s physical condition. Our mortgage counselors can help you to determine if a property you are interested in meets the qualifications for a USDA loan.
If you meet the qualifications for a USDA Rural Housing Loan, it will be the most affordable mortgage option available, even compared to the Federal Housing Administration (FHA) loan. The primary differences between a USDA home loan and an FHA loan include:
Ultimately, the USDA Rural Housing Loan will prove to be the better option for you if you qualify. However, because the qualifications for a USDA loan are more stringent, you may find an FHA loan is more suited to your needs.
Would you like to learn more about USDA Rural Housing Loan options?
Contact a Stop Renting specialist today:
Afia Owusu
Business# (443)-226-3610
Email: stoprentingdear@gmail.com
Copyright © 2024 Stop Renting - All Rights Reserved.
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