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 MoreAre Zero-Down Mortgages a Thing of the Past?
“So much has changed” “I miss miss the good old days” “Things aren’t what they used to be” These catch phrases apply to many situations… including mortgages. For those who haven’t gone through the home buying prices for many years, so much has changed concerning income, assets and credit scoring. One of the things that hasn’t changed is most loan programs require a percentage down to purchase a home. But is there still a zero-down product out there? Yes! There are several ways to get a zero-down home loan. USDA Rural Housing programs, VA loans for veterans, and FHA mortgages combined with down payment assistance all achieve the zero-down objective. Here is a rundown of the USDA program and what is...
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 MoreAm I eligible for a USDA Approved Steak? What About a USDA Loan?
A steak? Yes! A loan… perhaps. Most people associate USDA with food. You may recognize these 4 letters from the labeling on the meat and veggies you purchase for your family. This is one facet of the USDA. It also pertains to housing. If you qualify, you can purchase a home with little to no money down! USDA loans are offered by the USDA, and they allow you to purchase, refinance, renovate, repair or even relocate a home. The program hasn’t been around forever, though. It began in 1991 in an effort to boost home ownership in rural areas. Unlike conventional mortgages, there’s no down payment required – the loan can even cover closing costs, if the seller doesn’t. The most common reason that people do not pursue home ownership is coming up with...
Read MoreUSDA Celebrates Home Ownership Month
Agriculture Secretary Tom Vilsack kicked-off June National Home Ownership Month by highlighting USDA’s record delivery of single-family housing assistance to rural families and encouraging rural residents to purchase or refinance homes in rural areas. “Since the start of USDA’s single-family housing programs in 1949, USDA employees have helped nearly 3.4 million rural residents buy homes of their own,” Vilsack said. “Many of these are lower-income, first-time home buyers who are earning a leg up into the middle class. Home ownership is a critical step on the ladder of opportunity as it helps build equity and increase assets. Simply put, home ownership means long-term financial stability and security for these rural families.” USDA Rural Development...
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