Buying a Home in Missouri? 100% financing sound good?
The USDA Home Loan program is an amazing choice for your Odessa Missouri home buying needs.
The benefits of the Odessa Missouri USDA Loan program are:
- Zero down payment
- 100% financing is available.The loan can even be structured so that you have no out of pocket expense,
- no closing costs due at closing!
- Interest rates are still low compared to other loan programs
- Odessa Missouri USDA Rate Quote Low monthly mortgage insurance, just .4% of the loan amount per year as of July 2013.
USDA Home Loans in Odessa Missouri
So how do you qualify for a USDA home loan? Here are a few points to consider which will help you to determine your Odessa MO USDA Loan Eligibility:
- credit score must be above the minimum score
- Must live in the home as your primary residence.
- Check to see if the property is in an eligible area. You can check if your area is eligible by visiting the USDA eligibility website.
- If you are in an eligible area, the home qualifies to use a USDA loan to purchase your new home! Income limits apply.
- A series of credits can be used for child care and dependents under 18 years old, when calculating the family qualifying income.
Call us at 816-268-4025 and we can help determine if you fall under the limits.
One thing you may not have thought of in searching out a lender is that it is very important to find a lender who can do all your USDA Home program work “in-house.” USDA mortgages can be complex and difficult to work through, so in-house underwriting and funding are critical so we can get you to closing on time. Leader One is an in-house USDA lender.
For more information on getting USDA Home Loans in Odessa Missouri, please contact Darren Copeland, at 816-268-4025, KC Loan tips Website, or DarrenCopeland@kcloantips.com.
*** note that USDA Home Loans in Odessa Missouri are not designed for agricultural purposes. Owner-occupied rural housing only.
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