The USDA home loan is definitely an underutilized loan in Arizona.
We have many areas around Phoenix that are an easy commute to Phoenix. The biggest areas for USDA are Buckeye, Gilbert, Queen Creek and North Phoenix (including Anthem).
Many people think you have to live in the sticks in order to get a USDA loan, but this is not true. Did you know that even Seville Golf and Country Club in Gilbert is eligible for USDA? That’s right the only private golf club in Gilbert is USDA eligible.
Not only is USDA 100% financing but it also has NO monthly mortgage insurance. Depending on your loan amount this alone could save you over $100 per month when compared to an FHA loan.
The interest rates for USDA are also comparable to FHA.
Another huge benefit is the ability to roll the closing costs into the loan if your home appraises for more than the purchase price.
You can also escrow for repairs if the home is in need of a rehab. There is no other loan that offers all of these befits and capabilities into one loan.
Combine a 100% USDA loan with the $8000 tax credit….. now that’s a smokin’ deal!
Want more information on USDA loans?
Email or call for more information.
More From Arizona Mortgage Team
- USDA Loans: Highlights of the USDA Loan Program in Arizona
- USDA Loans in Arizona
- 102% Financing at 4% Available Now. No Tricks. Here Is How.
Arizona Mortgage Team Recommends
- 10 Ways Renovation Loans Create HUGE Value | 203K Loans | HomePath Renovation Mortgages – Georgia, Florida, Alabama, SC (203K Mortgage Loans)
- FHA 203K Loans – Rates and Closing Costs (203K Mortgage Loans)
Do you have private lenders who laon money for houses? My credit score is only around 610,. I had 1 late car payment and 1 late charge due to my daughter being hospitalized. I paid off my car. I only have a few doctor bills on there otherwise I have no debt except 450.00 on 1 credit card. I also have 2 houses paid off in mo, where I moved from. Thanks Jo
We do have some private money lenders but you only need 10 more points to qualify for a USDA loan. I think there are some things we can quickly do in order to get you score up. Feel free to call or email me and once I see you credit I can tell you exaclty what we need to do and how much of increase in the score you will get. Thanks, Corbin