Is the Home I’m Interested in Located in USDA Mortgage Territory?
If you are looking for a home in Indiana that is eligible for USDA financing, you’re in luck! You will find that most of Indiana is eligible for USDA financing. The USDA provides an interactive map where you can either type in a specific address or view an eligibility map for a general area. Just a reminder, USDA financing is not only for the purchase of farmland or homes on farms. A USDA home loan, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a mortgage loan offered to those purchasing a rural property.The United States Department of Agriculture designed to this mortgage option to “improve the economy and quality of life in rural America.” The interactive map below is a little more user friendly than the maps of...
Read MoreIs the Home I’m Interested in Located in USDA Mortgage Territory?
If you are looking for a home in Indiana that is eligible for USDA financing, you’re in luck! You will find that most of Indiana is eligible for USDA financing. The USDA provides an interactive map where you can either type in a specific address or view an eligibility map for a general area. Just a reminder, USDA financing is not only for the purchase of farmland or homes on farms. A USDA home loan, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a mortgage loan offered to those purchasing a rural property.The United States Department of Agriculture designed to this mortgage option to “improve the economy and quality of life in rural America.” The interactive map below is a little more user friendly than the maps of...
Read MoreDo Any Loan Programs Offer 100% Financing?
Yes! There are loan programs that offer 100% financing. One such program is a VA mortgage. It is a no-money-down program available to members of the U.S. military and surviving spouses. For those who do not qualify for a VA mortgage, a USDA mortgage may be an option. You will want to make sure the property is in an eligible area. You can do so by clicking here to check the address. USDA Mortgage : 100% Financing As stated above; “No Money Down” options exist for non-military borrowers, too. The U.S. Department of Agriculture offers a 100% mortgage. The program is formally known as a Section 502 mortgage, but, more commonly, it’s called a Rural Housing Loan. The good news about the USDA Rural Housing Loan is that it’s not just a “rural...
Read More9 Great Reasons To Consider A USDA Mortgage!
The USDA Rural Housing Loans program of the US Department of Agriculture was established in 1949. It has helped more than 2.7 million rural citizens the take advantage of the opportunity of to own a home. For more than half a century, the program has formed partnerships with carefully selected lenders in each state. In turn, the lenders provide the loans with a repayment guarantee from the USDA, in case the loan should ever default. The USDA backing means that loans are less risky to mortgage lenders who can proceed with confidence and offer home financing to those individuals who meet the USDA Rural Development guidelines. For those who qualify a USDA mortgage can offer many advantages over other home loan programs available in the marketplace. Here are 10...
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