SteveKnowsLoans offers USDA (United States Department of Agriculture) loans, which may be the best option for you if you plan to buy a home in a rural location or if you want to refinance a mortgage on a rural property you already own. Not many lenders provide loan plans that are well-suited for rural properties, so it’s important to do some research to find the one that works best for you. SteveKnowsLoan is your source for information regarding the United States Department of Agriculture’s special Rural Development Guaranteed Housing loan program.
Eligibility Requirements for Borrowers
Borrowers with a FICO credit score of 550 or higher are likely to be approved for USDA loans. A debt-to-income ratio of 29/41 is required for qualification as well. Contact SteveKnowsLoans to discuss this cutting-edge initiative and a representative will assist you in determining if you are a qualified borrower. You can borrow up to the property’s full appraised value with this program because there is no requirement to show proof of a down payment or emergency savings.
USDA Loan Requirements for Property
Not only must the borrower who applies to this program meet specific standards, but the property itself must as well. Properties in more remote locations can take advantage of this service. Contact us to find out more about the eligibility requirements and restrictions for manufactured homes. The money from the loan might be put toward the purchase of a home, or it can be used to simplify or adjust the loan’s interest rate or term. For additional information on this program and its eligibility requirements, as well as the seller’s ability to pay closing costs and pre-paid charges, please contact our office.
Here at SteveKnowsLoans, we care about you and your individual finance needs. This is one of the various loan options we offer to our patrons. Get in touch with us immediately for more details about this and other financing options we provide at our company.
Call Steven Jackson at 813-616-9411 now!
