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Montgomery County Maryland USDA Rural Development Home Mortgage Loan No Money Down
Montgomery County Maryland - USDA Rural Development Home Mortgage Loan - No Money Down
If you are thinking about purchasing a house in either the Northern or Western parts of Montgomery County there is a loan program called the USDA Rural Development Mortgage Loan that will allow you to buy a single family house, townhome, or even a condominium in areas such as Barnesville, Beallsville, Boyds, Clarksburg, Northern Damascus, Dickkerson, East Laytonsville, and Poolesville that allows for a zero down payment, zero monthly mortgage insurance, and if the sellers pays the settlement closing costs and/or the property appraises for more than the sales price allows you to finance the closing costs up to the appraised value.
The USDA Rural Development Home Mortgage Loan program is a fantastic loan option designed to assist home ownership in rural communities. Unfortunately, due to the high population density, the majority of Montgomery County, doesn't qualify for the USDA Rural Development No Down Payment Loan program.
However, there are areas that do qualify for the USDA Rural Development Loan which allows home buyers to obtain a house with the following flexible lending ruquirements:
Required Money Down: Zero MIP or MI Monthly Costs: Zero Funds Needed For Settlement: Zero (provided the seller is paying the closing costs and/or the appraised value ... more
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