USDA is a 102% loan with no down payment required and does not require monthly mortgage insurance.
This requirement alone saves a lot of money. The USDA loan is not limited to first time home-buyers.
The seller can contribute up to 6% of the purchase price towards buyers closing and prepaid costs.
Financing is available as a 30-year fixed only, for single-family residences and condos only.[/vc_column_text][vc_empty_space][vc_empty_space][/vc_column][/vc_row]