Homebuyers in Camden County Choose USDA Loans

By
Real Estate Agent with Melody L Anderson

100% Financing Option Not Just for First Time Homebuyers

USDA LOAN

 

Camden County homebuyers who qualify for USDA home loans are discovering the benefits over FHA home loans or conventional mortgages.

  • No Down Payment - Genuinely a 100% home loan
  • 2% loan guarantee fee (rolled into mortgage) replaces costly PMI insurance.
  • Can qualify without high credit score
  • No Minimum Credit History Required
  • No limits to seller concessions - seller is allowed to pay closing costs

USDA Rural Home Loans offer rates competitive with FHA and conventional mortgages.  There are income caps for the program, however. A family of  1-4 cannot exceed $73,600 annual income;  and a family of up to 8 can have a household income of up to $97,150.

Sorry, but manufactured homes are excluded from this program; and the home must be your primary residence.

For additional information, contact Melody for a list of area lenders.

(This post originally appeared at www.PostcardsFromTheLake.com)

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