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The major benefits are:
USDA offers 100% financing, the closing costs can be covered through the closing. NO PMI, very low interest rates and we work with fair credit. So there is no money to closing, your payments will be lower since there is no PMI which is private mortgage insurance which most other loans require if you don’t have 20% equity for a down payment.
Some other things about USDA:
For rural areas or semi-rural
No money down
Low interest rates that are fixed
Home cannot be in a flood plain
Must be a single family residence
House must be move-In ready
Here are the steps to buy a home. We have a lot of great loan programs available that have 100% financing
We do Conventional, FHA, VA, USDA, FHA 203K Rehab and Repair loans, Texas Vet
- Review your plans and see what loan and payments work for you
- fax in the required paperwork
- get the approval letter
- find a home
- make an offer on a home
- process the loan
- go to closing
- you will get the keys to the home and be able to move in the day of closing
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