An excellent loan exclusive to Active Military or Veterans.

U.S.D.A mortgages (United States Department of Agriculture) are meant to promote homeownership in areas deemed “rural” by the Federal government. They are also referred to as “rural development loans or “RD” loans.

Here are the features:

• No money down
• Seller can pay a portion, or in some instances all of buyer's closing costs.
• No mortgage insurance is added to the payment.
• Credit score should be 580 or higher to qualify.
• There is no limit to how many times you can use your benefits to get a VA mortgage.
• Seller is not required to pay any closing costs for the buyer, not even the termite report.
• The home must be in at least average condition with no issues that would negatively affect the health and safety of the borrower.
• Appliances are not requiredto convey in the home being purchased.
• If disabled, the veteran may be exempt from paying the VA Funding Fee and/or property taxes
• Loan can be in veteran’s name alone or with spouse, no other co-signers are allowed
• Owner occupied only