Colorado USDA rural housing home loans, 100% financing for Durango Home Mortgage Loans.
USDA mortgage Loans in Durango are an excellent choice to help with your home buying needs. If you are looking to buy a home in Durango , take advantage of this 0% down payment option. Read more below:
-Interest Rates on this program are still competitive compared to both FHA and Conventional Loans. The best features of the USDA home loan include 100% financing with no down payment and interest rates that are fixed for 30 years. There is 100% financing available with a very small monthly mortgage insurance payment compared to other types of loans (consists of about .30% of loan amount per year).
Compare this to other loan programs that aren't as low, and you will see the savings. There are many differences when qualifying for a USDA loan that you should be aware of. The differences are: Most of the State of Colorado qualifies for USDA loans however, some geographical areas do not. 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 must also qualify based on your income, but you can use a series of credits that are afforded for child care and dependents under 18 years of age. An important part is to find a lender that provides "in-house" USDA home loan programs.
Another program that fits well with the USDA rural housing program is the Colorado Home Buyer Tax Credit which will save you an additional (on average) over $100 per month off your mortgage interest.
For more information on getting a USDA loan, please contact RJ Baxter, NMLS #395819 at 303-670-0137, http://www.cohomesandloans.com.
Comments (0)Subscribe to CommentsComment