About Government Refinance and Home Purchase Programs

Information and Updates on Government Mortgage Programs
Filed under Government Mortgage Financing Programs News

One type of government backed mortgage we haven’t talked about much here in the past is the USDA rural housing loan. These USDA loans have some terrific advantages for folks who qualify. USDA mortgages have excellent rates and are one of the very few types of loans left that allow for zero money down on purchases. The main issue with the USDA mortgages is that one has to be purchasing a home in a rural, or at least relatively rural area to qualify. However, the definition of “rural” is pretty loose and in lots of new suburban communities that used to be rural areas these USDA loans are applicable still. The other sticking point for some folks is that this USDA program has a maximum income restriction so in many cases families that make six figures per year may not qualify for a USDA rural housing loan.

Our focus here has historically been mostly on refinances so if you have a USDA rural housing loan now contact us in the sidebar for info on refinancing it to a better rate. But if you or someone you know is considering purchasing a home, contact us in the sidebar as well and leave a note in the comments section that you are interested in purchasing a home rather than refinancing. We can get you information on the USDA rural housing program and other programs available in your area.

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