USDA Rural Housing
USDA Rural Housing
*If your customers are purchasing a home in a Peoples Advantage defined rural area, they may be eligible for financing with the Guaranteed Rural Housing program which features 102% financing!
100% Peoples Advantage
. Finance up to 100% of Appraised value
. No Down Payment required by borrower
. 6% gift or seller contributions
. No pre-payment penalties
. Primary residence only
. Cannot currently own a home
. Purchase and Rate / Term Refinances (USDA to USDA Refi Only)
. US Citizen, Permanent & Resident Aliens allowed
. Geographical limitations
. Maximum Income limitations
. 30 Year Fixed rates
. Qualifying Debt to Income ratios 29/41
. 2% Mortgage Insurance automatically added to loan balance
Click on link to see if the property is in eligible area.
