Get
a Great USDA Rural Housing Loan with AAXA Discount
Mortgage
It is hard to beat the flexibility and great rates of USDA rural housing loans.
These programs are geared toward homebuyers who live
in rural areas of the Country and who have little
to no money to put down. USDA rural housing loan programs
offer flexible, common sense underwriting guidelines,
relaxed credit requirements, no PMI (private mortgage
insurance) options, the ability to finance closing
costs into the loan amount, lenient seller concessions,
and rates that are comparable to, if not better than,
conventional fixed rate mortgage programs.
Your first step should be to call an AAXA Loan Advisor
at 877-RATE-LOW (877-728-3569) to see if you
are in an area where properties may be eligible for
USDA rural housing loans. An AAXA USDA rural housing
mortgage expert will research your property and determine
if both you and the property will qualify. You may
also check the USDA
web site to confirm the property eligibility and
income limits for the subject property and area (you
will see those links on the left navigation). In today’s
shrinking credit market, USDA rural housing loan programs
are one of the best 100% mortgage financing options
in the marketplace. Give AAXA a call today for more
details.
USDA Rural Housing Loan Program Highlights:
- Loans may be for up to 102% of the appraised value or sales price (whichever is lower). A one time 2% guarantee fee can be included in the loan which is how the loan can go up to 102%. This feature allows buyers to finance this expense into the loan amount versus paying it out of pocket.
- No PMI (private mortgage insurance)
- Secure, fixed-rate 30 year mortgages
- Sellers can assist with paying the buyer’s closing costs
- Little cash reserves needed for qualified borrowers.
Partial List of Eligibility Guidelines for USDA Rural Housing Mortgages
- Homebuyers must be United States’ citizens, qualified aliens, or legally admitted to the U.S. for permanent residence.
- Adjusted annual household income cannot exceed the moderate income limits for the area. A family’s size and child care considerations may increase chances for qualification if deductions are applicable.
- Primary residences only
- Home must be located in rural areas. This may
include open country, and places with populations
under 25,000 residents. An AAXA Loan Advisor will
be able to assist you in researching the eligibility
requirements in your area.
AAXA is pleased to provide USDA rural housing loan assistance in the states of Arizona, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Kansas, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Mexico, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia, Vermont, and Washington.