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102% Financing for Purchases - USDA
Loans
If you
live in rural America as defined by the
USDA, you can qualify for 102% financing
for the purchase of a home.
This loan program is available in all 50
states.
Purchase Details:
-
102%
financing
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2%
upfront guarantee fee - USDA Fee
-
NO
monthly mortgage insurance
-
620
minimum credit score
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NO cash
reserves required
-
1 unit
only - no duplex's, etc.
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Full
documentation only
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No
minimum loan amount
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80.1 %
minimum Loan to Value ratio
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Qualifying homes located in communities
of 25,000 or less. - Check with us
for eligibility
Refinance (NO CASH OUT) Details:
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100.5 %
financing
-
.5%
upfront guarantee fee - USDA Fee
-
NO
monthly mortgage insurance
-
620
minimum credit score
-
NO cash
reserves required
Homeownership counseling REQUIRED for
purchases and refinances in these states:
CA, FL, GA, IN, LA, NE, SC, TX, VA, WI |
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