Although some of these things may sound too good to be true, or even insane, all of the following facts about the USDA mortgage program are true.
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USDA Mortgage
The United States Department of Agriculture (USDA) offers a loan program known as the USDA Guaranteed Rural Housing Loan or just USDA Rural Housing mortgage. This program has been around for a number of years and is a great option for buying a home. The USDA Rural Housing Mortgage program is unique in three ways […]
Family Opportunity Mortgage Guidelines
Family Opportunity Mortgage Loan Program The lowest mortgage interest rates and the most favorable terms are typically reserved for owner-occupied homes. As the phrase implies, the owner of the property lives in the house as their main residence. When analyzing risks for lending money, mortgage lenders feel that the owner of the place is more likely […]
USDA Loan Florida
Florida USDA Home Loan Buying a home without making a down payment can be rather difficult. Most conventional mortgages require at least some type of down payment that ranges from 3% to as much as 20% of the home’s selling price. For a $200,000 home that can mean $6,000 to $40,000 out of your pocket! […]
Minnesota Rural Development Loan
The United States Department of Agriculture agency provides an excellent way to purchase a home known as the Rural Housing Loan or USDA loan for short. For Minnesota residents in the right income bracket, this mortgage program is a way to buy a home without making a down payment. Basics of the USDA Mortgage USDA […]
Refinance Mortgage
Homeowners often get a ton of information from various sources about refinancing. Because there are many types of refinances it can be a bit confusing when trying to compare the different loans. This article will serve as a basic guide to explain a refinance mortgage and why a person would consider this financial move. Basics […]
How Much Money Do I Need for a Down Payment on a House?
Armed with this down payment information you can then make a plan to save up the funds needed and budget for your home purchase.
What are Mortgage Overlays? Lender Guidelines Explained!
Mortgage overlays are specific rules a lender follows ABOVE the published guidelines set by Fannie Mae, Freddie Mac, FHA, VA and USDA.
FHA Loan vs Conventional Mortgage: What’s The Difference
The following will compare an FHA loan vs Conventional mortgage, not to show that one is better than the other, but to highlight the strengths of each mortgage.
VA Loan In Florida
VA Loan in Florida Veterans who live in the sunshine state of Florida can use the VA home loan program for a purchase loan or refinance. This program, which is backed by the Department of Veterans Affairs, is a benefit offered to men and women who served our great country. For many reasons, this loan […]