USDA 100% loans

 
USDA is a great 100% financing option with no monthly mortgage insurance. USDA does have a few key restrictions. The two biggest being income and locations
 
USDA Property Eligibility
 
When you think of rural housing, you probably dismiss most areas in the Mid-Atlantic Region. You may be suprised to find out that the majority of Virginia is eligible for a USDA loan , as is much of Maryland. Click here to find out if your property is eligible for a USDA mortgage
 
USDA Income Limits
 
To qualify for a USDA loan, your income cannot exceed 115% of the median income for your area. The maximum will vary by city. Check out this link to find out if your income exceeds the USDA limit for your city.  
 
Benefits of a USDA gauranteed housing loan:
  • Competetive 30 yr Fixed rate. USDA mortgage rates are typically in line with VA and FHA mortgage rates
  • 100% financing! USDA mortgages do not require a downpayment
  • NO MONTHLY MORTGAGE INSURANCE
  • Gift funds can be used for closing cost
  • Credit guidelines are typically more flexible than FHA
 

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