What Types of Homes Qualify for USDA 100% Financing?
There aren't many 100% financing opportunities left!
A USDA Rural Loan may help you purchase a home with no money down.
Wondering what kinds of homes might qualify for this kind of financing?
USDA financing is not just for farms!
This beautiful custom home on 1.5 wooded acres just northwest of Pittsboroand 25 minutes from Chapel Hill qualifies for 100% financing through the USDA Rural Loan program.
Here's the financial details, using the USDA 100% Financing Program:
Sales Price $272900
Funding Fee (mortgage insurance) 2% $5458
Total Loan Amount (Fee plus Sales Price) $278358
P&I (at 6.25%) $1714
Taxes and Insurance (est) $230
Total PITI $1944
No Origination Fee - reduced appraisal and attorney fees!
Maximum Income for a family of 4 is $82000 in Chatham County (under the Durham MSA). Not all lenders are approved with the USDA program. Make sure to work with a lender who has expertise with USDA loans!
About This Home: 640 Rebecca Lane in Cattail Creek