100% Financing for Austin Home Loans with USDA Mortgage Loans.
Austin USDA loans are great for home buyer purchases with 100% financing.
If you are looking to buy a home in Austin, there is an amazing 0% down payment option for you to take advantage of. Take a look at the qualifications for this:
- -Interest Rates are still competitive compared to both FHA and Conventional Loans. There is 100% financing available with small monthly mortgage insurance (consists of about .30% of loan amounts per year)
- Biggest features of a USDA home loan include 100% financing with no down payment and interest rate loans that are fixed for 30 years.
- FHA and Conventional loan programs both offer a higher mortgage insurance factor- meaning that your payments will be higher.
To find out more about qualifying for a 100% financing USDA loan, read below:
- In order to qualify for a USDA home loan your home must be in a USDA eligible area.
- USDA has a great website for you to check out if your property qualifies or a home you are interested in buying is in an eligible area- visit this URL and put your address in the search bar: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property%4011.
- If your property is in an eligible area, you can use a USDA loan to purchase the new home.
- Child Care and dependents 18 years old or younger that are in the home can be qualified for a USDA loan and can alter the maximum income.