The major benefits of a Rural Development home mortgage are:
- 100% mortgage LTV based on the Appraised value
- Zero down payment and no minimum contribution required
- No limit on seller concessions or gifts
- No mortgage insurance required
- No reserves required
- 30 year fixed rates only
- Lender must be USDA approved (Mortgage One is an approved lender)
- Low interest rates (this is not a sub-prime mortgage)
- Flexible Credit Guidelines
CLICK HERE to access USDA Rural Development web site.
With real estate prices coming down and mortgage rates low, this is a great opportunity to become a homeowner