“What to Know Abut Getting a USDA Home Loan”
There can be significant benefits to a USDA home loan, but buyers must meet certain criteria to qualify. USDA loans are available only in rural areas and qualified towns. Since they are backed by the goverment under the U.S. Department of Agriculture, they have lower interest rates and don’t requre a down payment or mortgage insurance. Income limits require qualified buyers to be under 15% of the area median income for their family size. Monthly payments of principal interest, taxes and insurance must be under 30% of the borrower’s monthly income, and other monthly debts can’t exceed 41% of monthly income. These limits may be lower and more difficult to meet than those on a conventional loan.
With the variety of loans available today, buying a new home can be an intimidating process for many people. But, we’ve got you covered! We are specialists with the knowledge, training, insight, and local expertise to help buyers and sellers realize their home ownership dreams. No one knows the greater New York and New Jersey areas like we do and our solid team of experienced brokers is committed to your satisfaction. Let us help you unlock the door to your new home.
“OUR SUCCESS HAS BEEN BUILT ONE SATISFIED CUSTOMER AT A TIME.”
