USDA FundsWith the re-funding of the USDA’s lending program, housing sales in rural and suburban markets should see some revitalization. This is good news for both buyers and sellers!
Benefits of the program include:
*No-money-down financing
* No mortgage insurance (a onetime funding fee is financed into the loan at closing)
* Expanded underwriting guidelines
*Interest rates comparable to standard FHA and Conventional financing
This is good news for buyers and sellers in rural and some suburban markets that qualify for USDA funding!
There are limits on both buyers’ income and loan amounts:
Income limits are set by the property location and will vary from county to county.
If you are interested in learning more about USDA funding and whether you and the property you are interested in qualify, please let me know. I can put you in touch with a trusted mortgage loan officer who can help answer your questions.
Eunice Waller
Prudential Simpson & Assoc.
540-842-1061
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