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Is it the Guaranteed USDA Rural Home Loan or the USDA Direct Loan?
What’s the best USDA Rural Home Loan, the Guaranteed USDA Rural Home Loan or the USDA Direct Loan? It’s important to note that the USDA Rural Home Loan is gaining enormous popularity in Arizona.  Primarily because it allows home buyers in qualifying areas to purchase a home with absolutely zero down payment and without the added expense of monthly mortgage insurance.  In most cases, the USDA Rural Home Loan is the least expensive loan to obtain and to maintain. There are two types of USDA Rural Home Loans;
Guaranteed USDA Rural Home Loan USDA Direct Home Loan Let’s look at the Guaranteed USDA Rural Home Loan first.  It allows you to buy in a rural designated area and has a higher income limitation than the USDA Direct loan.  It allows for applicants to have a Qualifying Income of up to 115% of the area median household income.  All of our Guaranteed USDA Rural Home Loans are based on 30 year fixed rate loans that carry similar interest rates to an FHA Home Loan.
The USDA Direct Loan is not as common as the Guaranteed USDA Rural Home Loan.  One reason is that they carry very strict income limitations for qualifying applicants.  ... more

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