Amarillo, Texas USDA home loans, 100% financing with Amarillo Home Mortgage Loans.
USDA mortgage Loans in Amarillo are excellent mortgages to help with your home buying needs.
A 0% down option payment is available to home buyers looking to purchase homes in Amarillo,Texas. Find out more below:
- -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).
- There are 2 great benefits to a USDA loan: 1. No down payment with 100% financing and 2. A 30 year fixed interest rate.
- You can get very low Mortgage Insurance rate (MI) when compared to FHA and Conventional loans and you'll see the savings!
Some qualifying requirements for a USDA home loan are as follows:
- Congress has defined that the home must be in an eligible USDA area for you to qualify.
- A very easy and efficient way to determine if you are in an eligible is by visiting this website and putting in your address: 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.
- You can use a series of credits that are afforded for child care and dependents under 18 years of age as you calculate the family's "qualifying income."
You want to find a lender with the best service that is a mortgage banker rather than a broker so that there won't be any delays in getting your loan approved.