Why Rent in Pasco WA when you can Buy with a USDA loan?

Free government money is not something to be looked upon lightly!

No down payment USDA loans not only save you the upfront costs of house ownership, but you also gain the tax benefits of a mortgage and begin to build wealth through equity.

The government, through the USDA, has dedicated itself to building up rural areas, and offering substantial benefits to the people who help them accomplish this. Normally the mortgage vs rent argument is a closer one, but with benefits like these, the decision becomes much more cut and dry.

A USDA loan also comes without the need for purchasing expensive mortgage insurance, which allows more money to be directed toward the house payment every month. They also come with no maximum limit. So if your credit is good, you may get a bigger house than you could with a traditional or FHA loan.

But what if your credit is bad? Should you still rent?

Even those with bad credit should seriously consider the benefits of a loan with the United States Department of Agriculture. There are special provisions made for borrowers with bad credit, and although borrowers' credit reports are still required, there is much more leeway to provide for those with less than perfect credit.

The interest rates in these special loans are also quite competitive, at any credit rating. Also, because the government is investing in the industrialization of rural areas, certain home repairs can be included in the the loan. If you help the government by purchasing a home that needs refurbishing, they will provide you with the funds to do that.

Interested home buyers in the Tri-Cities Washington area should contact me directly or call their nearest Rural Development Office and obtain a official list of approved lenders. Next, scout for properties that meet the standards of a rural property, usually in an area of less than 10,000 people and located in more rural areas. There are many properties which fit these criteria in the West Pasco area.

To learn more about eligibility for the USDA program, please call or email me for the most up to date program guidelines.