Mortgage Miracles Happen is a USDA mortgage broker in Alaska, Arizona, Colorado, Florida, Idaho, Texas, Utah, Wyoming for USDA home loan financing.
USDA / Rural Housing (Purchases & Refinances)
- USDA / Rural Housing purchase mortgage loans.
- USDA / Rural Housing refinance mortgage loans.
The Advantages
- No Down payment is required., 100% of the purchase price.
- Flexible credit score guidelines.
- No maximum purchase price limit.
- Closing costs can come from any source including gifts / Seller can contribute closing costs
- Repairs and improvements can be included in the loan.
- Competitive fixed 30-year rates.
Eligibility criteria:
- Occupy the property as your primary residence. Choose Rural Development as the first option
- 30 year fixed rates
- Generous income limits
- Flexible credit guidelines
- NOT limited to first time home buyers
- Assistance options, such as gift funds, grants, seller concessions allowed.
Tools and Web Site links:
- Determine if the property is within the Rural Development eligible area.
- Use the link “Single Family Housing” under “Property Eligibility”.
- Determine if your adjusted household income is within the Agency limits,
- Use the link “single family housing” under “income eligibility”
- What is “adjusted household income“?
- What is “repayment income“?
- Useful web links
Refinance into a Rural Housing (USDA) loan.
Can I refinance from a non-Rural housing into Rural Housing loan?
Answer: YES
What is the funding fee for USDA (Rural Housing) Loans?
Purchase Loans: 3.5% of the loan amount
Refinance:1% of the loan amount
Brochure and guides:
- Guaranteed Loan brochure
- USDA Rural Loan Map local Rural Development office.
- A “quick guide” overview to Guaranteed Loans
Mortgage Miracles Happen is a USDA mortgage broker in Utah, Arizona, Colorado, Florida, Idaho, Texas, Utah, Wyoming for USDA home loan financing.
