A USDA (United States Department of Agriculture) Home Loan more commonly know as a Rural Development Mortgage or RD loan is a loan/mortgage that is guaranteed by USDA. It is one of the true 100% products still available for people. Of course like anything there are restrictions. The biggest two are location, the property has [...]
There has been good news released about the USDA Guaranteed Loan Program funding situation. Conditional loan commitments are once again being issued for 100% USDA Home Loans subject to “the availability of funds and statutory authority to obligate such funds to support the proposed guarantee, the statutory authority to charge a sufficient guarantee fee (if [...]
USDA Loans are primarily for low income households or for households in rural areas. Most loans are for the purchase of a home home, however there are instances where funds can be used to build, renovate, and repair. Rural Development Loans can also be used to refinance a home as long as the home is [...]
The most obvious of all benefits is that no down payment is required. Borrowers who qualify for a USDA Rural Development home loan have the flexibility to pay nothing out of pocket for a down payment. That means a borrower can finance up to 100% of the appraised home value. Or, a borrower can have [...]
