Benefits of the USDA Loan

Many people are looking for ways to take advantage of the historically low mortgage rates.  Some of these individuals may not have quite enough for a 5% down payment on the home, yet they have other strong financial qualities.  For these people, the USDA home loan may be a great solution.

The USDA home loan is a loan guaranteed by the federal government.  These loans are designed for people with modest yet stable income.  A history of paying debts in a timely manner is also a strong asset for the borrower.  The income levels are calculated based on rules set forth by the USDA.

New homes, as well as existing homes, are both eligible for the program.  These homes must be located in rural areas as determined by the USDA field offices.  The loan amount can be 100% of the value of the property or the purchase price, whichever is less.  Best of all, the loan can include all of the necessary costs associated with purchasing a home.

This program is ideal for people with good credit and a solid employment who have not had the time to save for a large down payment.  With the available fixed interest rates, this could be a perfect way for new buyers to become homeowners. 

In order to find out if you meet the qualifications for the USDA Mortgage, contact me today!

Cory Kessenich
NMLS ID #208789
Toll Free: 877-240-5810
cory.kessenich@madisonmortgageguys.com
Home Page: Wisconsin Mortgage

Apply/Pre-qualify Today!
 
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Inlanta Mortgage is a Mortgage Banker licensed in Wisconsin, Colorado, Florida, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire and North Dakota. NMLS ID #1016

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This post has been included in Wisconsin Real Estate News

4 Comments on Benefits of the USDA Loan

AUG
02
2010
1 Featured Post Called Shot Master

Dennis we use the program all the time in our Market.  It's a great problem and easy to work with I wish both the cities I worked in could use USDA but only Marion qualifies.  I glad they got their funding problem handled
12:10pm • #1

It's not a very well known program but it is a very good loan program. Thanks for the post.
12:20pm • #2
SEP
27
2011
216,570 Points 1 Featured Post Attended Rain Camp Called Shot Master

This is a great option for Wisconsin home buyers to get a no-money down 100% financed mortgage loan!

Thanks Dennis!
10:30am • #3
121,750 Points

Michael, Agreed, the Wisconsin USDA mortgage is a great program for people without a down payment. Thanks for the comment!
12:12pm • #4

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Cory Kessenich

Cory Kessenich

Madison, WI

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Inlanta Mortgage of Madison

Address: 368 Junction Road, Madison, WI, 53717

Office Phone: (877) 240-5810

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Follow Cory Kessenich on Twitter

Your local Wisconsin, Illinois, Minnesota and Florida mortgage banker, offers first time home buyer, refinance, jumbo, fha 203k rehab loans, reverse mortgages, no money down, current mortgage rates, refinance, 100% financing, conventional financing, interest only, FHA loans, VA loans and USDA rural housing loans. Inlanta Mortgage NMLS ID #1016 Visit us online at www.MadisonMortgageguys.com Toll Free: 877-240-5810



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