Sunday, May 6, 2012

USDA Rural Development Mortgage Guidelines

USDA Rural Development Mortgage Guidelines
http://rural-development-mortgage-guidelines.com/



USDA Guaranteed Loan

The major benefits are:
  • 100% mortgage LTV based on the APPRAISED value
  • Zero down payment and no minimum contribution required.
  • No limit on seller concessions or gift
  • No mortgage insurance required
  • No reserves required
  • 30 year fixed rate only
  • Lenders must be USDA approved.
  • Low interest rates
  • Flexible Credit Guidelines
  • Property must be in a rural eligible location
In the not so distant past few people, including real estate agents and loan officers, were aware of this government program.  Real Estate Agents, Lenders, and For Sale By Owners should use this 100 percent loan to the advantage of the buyer and the seller.
Not every home or buyer will qualify for this loan. If they do qualify they will be getting one of the top mortgages, with the lowest interest rates on the market today.
Here is a very short video that covers the basic qualifying factors.  You should still review the rest of  this site for more details:
  



http://rural-development-mortgage-guidelines.com/
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