Connecticut USDA Mortgage Loan | 100% Home Financing w/ a CT USDA Loan

By
Mortgage and Lending with Canopy Mortgage 89769
Connecticut Home Buyers USDA is a great mortgage for your home buying needs.
The rural housing loan program is a great $0 down option for home buyers looking to purchase a home in qualifying rural areas. 

- 100% Financing Available
- Small Monthly Mortgage Insurance (.30% of loan amount per year)
- Interest Rates are still very competitive compared to Conventional and FHA

Some of the great benefits of a USDA loan are:
No down payment (100 percent financing)
30 year fixed interest rate
Low MI compare it to CHFA, FHA and Conventional and see the savings!

Some of the “Differences” for qualifying for a USDA rural development loans are:

Property Qualification Requirements:
A home must be located in an USDA eligible area. The simplest way to determine if you are in one of these areas is by entering an address into the USDA Property Eligiblity @ http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property%4011

If the property address is determined to be in an eligible area, you may use a USDA loan to purchase the home.

Income Requirements:
The income limits on a USDA loan are based on number of working adults in the household regardless of whether or not they are on the loan. There are a series of credits that are afforded for child care and dependents under 18 as you calculate the family’s “qualifying income”. 
The USDA site has this Income Calculator available for you to determine whether or not your family will qualify @http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income%4011

If you have any questions about qualifying for a 100% financing USDA loan, feel free to shoot me an email or call me 203-525-3672
Photo: The rural housing loan program is a great $0 down option for home buyers looking to purchase a home in qualifying rural areas. 

- 100% Financing Available
- Small Monthly Mortgage Insurance (.30% of loan amount per year)
- Interest Rates are still very competitive compared to Conventional and FHA
The greatest benefits of a USDA loan are:
No down payment (100 percent financing)
30 year fixed interest rate

Some of the “Differences” for qualifying for a USDA rural development loans are:

Property Qualification Requirements:
A home must be located in an USDA eligible area.  The simplest way to determine if you are in one of these areas is by entering an address into the USDA Property Eligiblity @ http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11

If the property address is determined to be in an eligible area, you may use a USDA loan to purchase the home.

Income Requirements:
The income limits on a USDA loan are based on number of working adults in the household regardless of whether or not they are on the loan.  There are a series of credits that are afforded for child care and dependents under 18 as you calculate the family’s “qualifying income”.  
The USDA site has this Income Calculator available for you to determine whether or not your family will qualify @ http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income@11

If you have any questions about qualifying for a 100% financing USDA loan, feel free to shoot me an email or call me 203-525-3672
close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Connecticut
Tags:
usda
connecticut 100 financing
ct low rate mortgages
usda ct
ct usda mortgage
ct usda mortgage loans
100 financing mortgage in ct

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
194,348

Leo Namiot

Outstanding Service & Great Rates
Have a question?
*
*
*
*
Spam prevention

Additional Information