The communities of the San Bernardino Mountains, including Crestline, Lake Arrowhead, and Running Springs (as well as those in between) all qualify for this type of financing. We are getting ready to close an escrow with a buyer under this program next week! Call on us for guidance on who to speak to to take advantage of this program today!
USDA Loans are mortgages for Homes that are found in Rural areas. If you are thinking of buying a home in a rural area you can not beat this loan option. Here are the highlights for:
- You will not need a down payment. That's right 0%!!! FHA loans require a down payment of 3.5% and a conventional can require 5% or more.
- And the seller can pay all or some of your closing costs. This would allow you to get in the home with the least amount of money possible.
- You will not have any monthly mortgage insurance. This will give you an even lower monthly mortgage payment then a conventional loan or a FHA loan.
- USDA loan is a government backed loan.
To qualify for a USDA loan you must meet the income requirements and the home must fall in the designated Rural area. You would be surprised to see which homes qualify, many fall in areas that you and I would not consider rural. To find out if a home qualifies check out: USDA. Call me Today to make sure you are getting the best mortgage possible.
Schmidt Mortgage Company
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If you are looking for a mortgage in Fort Bend County, Sugar Land, Houston, Katy, Harris County, Brazoria County, Pearland, The Woodlands, Montgomery County or anywhere in Texas I am your GUY!
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