What are the benefits offered by a USDA Home Loan Richmond MO?
The USDA Home Loan program allows financing for eligible areas with no down payment requirement. The program also allows the ability to finance closing costs up to the appraised value of the home, helping reduce out of pocket expenses. So if you're looking for a house in an area, such as Pleasant Hill, Missouri then you should consider this wonderful option for buying your own home!
Here are just a few more benefits to the USDA Home Loan Richmond MO:
WHen you compare the PMI costs to the cost of the USDA loan program, the FHA is 3 times higher! Not to mention, FHA loans require a down payment of at least 3.5%, whereas the USDA is 100% financed!
You'll also have the option for the Home Repair Financing Option, this can be a great tool for foreclosures & short sales. You can read more about USDA rural home loans on our page: KC Loan Tips.
If you are a homeowner who currently has an existing USDA loan you are in luck there are a couple options that you can use to refinance that home to a lower mortgage rate! There are Special Refinance programs which include both the USDA Pilot Program and Traditional Streamline Refinance, which can help you save money in the long run!
Understanding the USDA Loan eligibility requirements can be challenging but our team is built to help home buyers become mortgage ready! If you are a realtor and have a client looking to purchase a home with USDA financing, we are experts and can take you step by step through the process.
If you're interested in getting a USDA Home Loan Richmond MO, let us know by getting preapproved online here, or if you're interested in talking to real person call us at (816)268-4025 and we can help you get started on the path to home ownership!