USDA Home Loans
The USDA Home Loan program is a very popular program where it is available. Unfortunately it is not available to everybody. The largest communities in Nebraska are not able to offer this to the borrowers. A common guideline is if the community is greater than 20,000, USDA will not be available. To check a specific address, please visit the USDA website to know for certain.
Advantages of the USDA program include:
- No Down Payment requirement
- Low interest rates
- Competitive monthly payments
- Very low monthly guarantee fee
- Closing cost maybe finaced on some transaction
- Reserves not required
- Property must be located in an elgible rural area
- Primarily for low to moderate income borrowers
- Up to 6% of the purchase price in Seller Contributions
- Nontraditional credit may substitute for lack of traditional credit history
- Maximum base loan amount up to 100% of the appraised value
- Visit the USDA website for maximum income requirements
If you have questions about the property qualifying or you qualifying, please contact us today and we would be happy to assist you with any questions you have.