USDA Rural Development monthly mortgage payments

Did you know that for the same loan size and a similar rate that the USDA Rural Development Home Loan will ALWAYS have a lower payment than FHA?  Sometimes the USDA Rural Development payment will be substantially lower.

Let’s talk rates and payments…

When most people shop for a USDA Rural Development Mortgage the first thing they ask is… “What’s the rate?”  The problem is that they are often comparing rates for a USDA Rural Development home loan to an FHA Mortgage Loan or Conventional Loan.  Some of the time, the USDA Rural Development rate will be slightly higher, but not much.

You pay your monthly mortgage payment, whether it is USDA Rural Development or FHA or Conventional you do not pay a rate.  You make a payment based on Principal, Interest, Taxes and Insurance.

All FHA Mortgage Loans have an additional payment component, mortgage insurance.  USDA Rural Development Home Loans do NOT have this additional monthly expense.  It’s easy to calculate how much the monthly FHA Mortgage Insurance payment will be.  Here is the formula:

Loan Amount    x    0.55%     =    Annual Mortgage Insurance (divide by 12 for the monthly FHA Mortgage Insurance Payment)

Example:

A $200,000 USDA Rural Development home loan at 5.5% would have a monthly Principal and Interest payment of $1135.58.

That same $200,000 FHA Mortgage Loan would have that same Principal and Interest payment of $1135.58 but would also have the additional Mortgage Insurance Payment of $91.67 EVERY MONTH.  The USDA Rural Development Home Loan saves over $90 bucks a month over an FHA Mortgage Loan with the same loan amount and rate.

Have some fun and play around with our USDA Rural Development Mortgage Calculator and see for yourself the massive savings you can have with USDA Rural Development.

To find out how much USDA Rural Development Home Loan you qualify for today and how much you can save over an FHA Mortgage Loan, click on the Get Started tab above or click here.

Apply online for a USDA Rural Development Home Loan and get pre-qualified today.

Paul Dunn Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Home Loans
Apply online for a USDA Rural Guaranteed Home Loan and get pre-qualified today.

The $8000 First Time Home Buyer Tax Credit is set to expire soon and is available for Rural USDA Loans. The deadline to fund your home is November 30th. That isn't even 60 days from today to qualify for the Home Buyer's Tax Credit. The average AZ Mortgage is taking 35-45 days to close. The home search takes about 2 weeks minimum... right? Here are some things you need to know about qualifying for the $8000 First Time Home Buyer Tax Credit with your Rural USDA Loan:

1. The Home Buyer's Tax Credit is for the First Time Home Buyer only. If you have owned a home within the last 36 months, you are not a First Time Home Buyer.
2. The Home Buyer's Tax Credit has income limits. $95,000 for single filers and $170,000 for joint filers.
3. The amount of the $8000 First Time Home Buyer Tax Credit is the lesser of $8,000 or 10% of the purchase price.
4. The purchase must be an arms length transaction, meaning that the buyer and seller cannot be related.

Here is an enlightening and entertaining video on the $8000 First Time Home Buyer Tax Credit that my colleague from Portland Oregon, Dustin Hughes at Northwest Mortgage Advisors, put together. Please watch and leave a comment! To find out how much USDA Rural Home Loan you qualify for today, click on the Get Started tab at Rural USDA Loans or click here. Apply online for a Rural USDA Tucson Loans and get pre-qualified today.

The Rural USDA AZ Mortgage - How to find Tucson property that qualifies

How do you know if the real estate you are looking at in Tucson AZ, qualifies for the now popular Rural Development USDA Tucson Loans? Let's take a look at a few ways to find out if the AZ Mortgage for the property you're looking at qualifies as Rural USDA.

There are three ways to see if the property you are looking at qualifies for the Rural USDA AZ Mortgage.

1. Download the Tucson Loans Rural USDA map. It has street names and boundaries marked so it will make determining what qualifies for the Rural USDA AZ Mortgage a snap. Download the map right here off my website under the Maps tab.
2. Still not sure if the Tucson real estate you are looking at qualifies for Rural Development USDA...

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Read the full story at USDARuralHomeLoans.com

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Paul Dunn Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Home Loans
Apply online for a USDA Rural Guaranteed Home Loan and get pre-qualified today.

USDA Home Loan Success Stories

An Arizona First Time Home Buyer with high debt to income ratios obtains an Arizona Rural Development USDA Home Loan.  Truly a wonderful ending to this one.

Kathy is a single mom working hard to find a great home where she could raise her two girls.  She had been working with a loan officer who offered an FHA Mortgage Loan pre-approval.  But the loan officer made one critical mistake and did not correctly calculate her income.  So instead of qualifying for the home, she was about to lose it. He told her she was turned down for her FHA Mortgage Loan application.

So Kathy was not about to quit, and she went online to look for an Arizona Mortgage Loan Expert.  That’s when she found us and I asked her some simple questions and saw why the other mortgage loan originator miscalculated the income.  It was obvious that although FHA Mortgage Loan financing can sometimes stretch debt ratios, this would stretch them too far.  Mostly due to some child support issues and the additional monthly mortgage insurance.

Read the rest of the story at USDA Rural Home Loans.com Success Stories.

Do you know who will be our next USDA Home Loan Success Story?  To find out how much you qualify for today, click on the Get Started tab or click here.

If you’ve been wondering and struggling with your Mortgage Advertising, Mortgage Loan Lead systems or how to get Realtors to call you, boy do I have some exciting news for you.  This Mortgage Advertising To Realtors program is the #1 marketing secret I have ever seen.  This Mortgage Loan Marketing system will help will get Red Hot Realtors who need you to call you today to help them Shorten the Sales Cycle and Get Paid Sooner.  The secret behind the Mortgage Advertising Loan Officer Marketing system is that Tim has taken the new MDIA (Mortgage Disclosure Improvement Act) rules and turned them into the best opportunity EVER for Mortgage Advertising and Exclusive Mortgage Lead generation.

Just like Travis you can apply the Mortgage Advertising secrets to help any Top Realtor you chose and help them close deals quicker and get paid sooner.  This is Loan Officer Marketing at its most effective, period.  I’ll share the exact Tele-Seminar Travis shared with his Realtors in a moment that got Realtors he’d never even met within 40 miles calling him for appointments.  This Mortgage Advertising will have Realtors calling you in minutes, not months, weeks or days.

This Mortgage Advertising is so simple even a Subservient Troglodyte could do it (That’s a mortgage caveman).

Read the full story and watch the COMPELLING video at Mortgage Marketing To Realtors.com

Tucson FHA Mortgage Loan Tip

There is an abundance of Arizona Bank Owned REO property on the Tucson MLS. Anybody planning on buying a home in Arizona using a Tucson FHA Mortgage Loan must know the following tip. A vacant Bank Owned or REO property will typically have all it's mechanical systems turned off. Often for quite some time. Tucson FHA Mortgage Tip for purchase of Vacant Property:

• When an appraiser inspects the property they will check the utilities and mechanical systems as an FHA requirement. If they have been disconnected prior to the appraiser inspecting the property, to qualify for a Tucson FHA Mortgage Loan they will need to be turned on and the mechanical systems will need to be checked by a licensed contractor or qualified inspector. The contractor or inspector must certify that the systems have been turned on and are working properly.

Planning appropriately with this Tucson FHA Mortgage Tip in mind will without any doubt save you time and frustration. Just imagine applying for a Tucson FHA Mortgage Loan for the purchase of a vacant bank owned property and all the utilities are off. You hire the appraiser who inspects the vacant property. The appraiser then will take the next several days to complete the appraisal report and then submit it to us(total time, 1-2 weeks) for your Tucson FHA Mortgage Loan. At this time your mortgage guy calls and tells you "the utilities are not hooked up. Get them hooked up and you'll need to pay a qualified inspector to verify that all systems are working properly." If that happens, you've added time and the additional inspector cost to the already lengthy process of home buying. Arizona USDA Rural Development Home Loans will also follow this same tip. To find out how much you qualify for today, click on the Get Started tab above or click here. Apply online for an Arizona FHA Mortgage Loan and get pre-qualified today. Or call (520) 225-0380 to speak with a Tucson FHA Mortgage Loan Originator today!

First Time Home Buyers are experiencing an opportunity like never before.  And HUD's FHA Mortgage Loan is the primary financing tool for the majority of First Time Home Buyers in Arizona.

Today's Arizona Real Estate market has many deep discounts and Tucson FHA Mortgage Loans is positioned to be the financing tool of choice.

"Real Estate in Tucson and the rest of Arizona is CHEAP!  It's like being in K-Mart and the Blue Light is flashing!"

FHA Mortgage Loans allow for low down payment and here are some credit tips for First Time Home Buyers...

Read the full story at Tucson FHA Loans today!

Paul Dunn Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Home Loans
Apply online for an FHA Mortgage Loan and get pre-qualified today.

Using an Arizona USDA Guaranteed Rural Home Loan allow you to buy a home in ANY County of Arizona with Zero Down payment.  That means, the money you save on your down payment by using a USDA Rural Home Loan instead of conventional or FHA Home Loan financing will stay in your bank account, for your family.

QUESTION:  What is the maximum Arizona USDA Rural Home Loan size?

ANSWER:  There is not a set maximum loan size for USDA Rural Guaranteed Home Loans.

EXPLANATION:  The USDA Rural Home Loan size you qualify for is determined by your USDA Repayment Income.  As a BASIC rule;

Read the full story at USDARuralHomeLoans.com

Paul Dunn Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Home Loans
Apply online for a USDA Rural Guaranteed Home Loan and get pre-qualified today.

You can refinance your Arizona FHA Mortgage Loan without an appraisal and without any credit or income re-qualifying what so ever.  The AZ FHA Streamline Refinance takes the hassle out of getting a permanent interest rate reduction on your Arizona FHA Mortgage Loan.

In the 1980’s HUD created a loan program designed to “streamline” the refinance process for homeowners with existing FHA Mortgage Loans.  The result is the FHA Streamline Refinance.

The four basic requirements of the Arizona FHA Streamline Refinance:

1. Your current mortgage must be an FHA Mortgage Loan
2. Your current FHA Mortgage Loan SHOULD be current
3. The FHA Streamline Refinance MUST result in a lower payment
4. Cash Out Refinances are not permitted under the AZ FHA Streamline Refinance

So, if your current interest rate is over 6% or so; you should consider looking at an Arizona FHA Streamline Refinance to get into today’s low rates.

Download the application-pack-for-fha-streamline and watch the video “FHA Streamline Application Instructions - How to Refinance Without an Appraisal.”

USDA Rural Home Loans has a MASSIVE advantage in today's Real Estate market.  We've all heard these terms...

NO MONEY DOWN! ZERO DOWN! 100% Home Loan Financing!

These options for financing a home are no longer available with conventional financing NOR through FHA home loan financing.  The best option for buying a home with No Money Down is with the USDA Rural Development Home Loan, which will fund up to 102% of the appraised value.

The USDA Rural Development Home Loan allows you to finance:

• Full Purchase Price
• Closing Costs
• USDA Guaranty Fee
• Rehabilitation Costs
• Repair Costs
• Appliances

How do you find a USDA Rural Development Home Loan property that qualifies?

First, click on our USDA MAPS tab to print out the map for the area you are interested.  Then a good place to look for an eligible USDA Rural Development Home is at www.Realtor.com.  Simply look for properties within the boundaries identified on your USDA Rural Home Loan map.

You can apply for a USDA Rural Development Home Loan here.

P.S. - It's always a good idea to get prequalifed for a USDA Rural Home Loan before you go out shopping for a new home!

Paul Dunn
Tucson's #1 FHA Mortgage Loan Originator
Arizona USDA Rural Home Loans