USRDA: Rural Development Purchase Loan
First time home buyers, but ALSO for primary residence purchases
- Minimal monthly mortgage insurance
- Closing costs CAN be financed
- Lower than Prime Credit Scores can be approved
- Flexible underwriting guidelines allow for more approvals
This is the best product for a home buyer to enter the real estate market for the first time, or if there is a limited down payment.
Restrictions: This loan has maximum income limits and is only for a borrower’s primary residence, contact us for clarifications.