USDA Loan

Hi Novice,

An USDA loan is insured by the Government. It allows borrowers to finance 100% of the home purchase and offers interest rates lower than that on other types of loans available in the market. However, USDA loans are available only in the rural areas and borrowers need to meet certain income requirements in order to be able to eligible for an USDA loan. You can contact your local lenders and see if they offer USDA-insured loans. You can also refer to the USDA website at http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?NavKey=home@1 for more information about the loan program of your choice.

Thanks,

Jerry

what the difference between th CalHFA and the USDA loan?
How Much points and fees can they charge the buyer?
Can we shop there loan?

Thank You

hi,

A USDA Guaranteed Loan is Government insured
100% purchase loan. These Loans are only
offered in rural area's and serviced by direct
lenders that meet federal guideline's.

Hi looking,

I have replied to a similar query at http://www.mortgagefit.com/firsttimebuyer/calhfa-usda.html#138310 . I believe this will help you get the answers to your queries. But in any case, if you have more queries, do not hesitate to share them with the community.

Thanks,

Jerry