USDA Loan Program offers up to 102% financing for Select Rural Areas in Central TX
For prospective buyers of select rural communities in Central Texas, there is a new loan program being offered by USDA. Some details of the USDA Loan Program are as follows:
- All closing costs & prepaids can be added to the loan, up to appraised value
- No Private Mortgage Insurance (No PMI)
- Loans can exceed appraised value by the 2% USDA Guarantee Fee
- No upper loan limit – loan amount offered based on Ability-To-Pay
- For owner-occupied borrowers only
- Program counts all household income to determine eligibility (even household members not on the loan)
- Subject property has to be in USDA “Rural Development” area
- Minimum credit score of 580
- Full Doc Loans and 30-year fixed rates only
This is a unique opportunity for select buyers on select homes in areas such as ShadowGlen in Manor TX & other rural communites in Central Texas. Contact me and I can put you in touch with a lender who sponsors this program.
Back to ShannonMovesYou.com