When FHA did away with seller contributed gift funds, the USDA better known as Rural Development or RD loans became one of the two programs of choice for buyers looking for 100% financing (VA being the other). Arkansas home owners are not new to RD loans but they have become a much more sought after product in the last 2 years. Here are a few of the highlights of the RD loan program:
- No down payment - true 100% financing
- No cash reserves required
- No asset limits: you may keep liquid cash savings and other investments
- Not just for first time homebuyers - anyone may qualify
- Loan up to 102% of the appraised value - the 2% guaranteed fee may be added to the loan amount regardless of appraised value.
- Competitive 30 year fixed interest rates
Eligible USDA Rural Designated Areas in Arkansas
If you are considering purchasing a house in an area that is designated “rural”, the RD loan is the way to go. On top of the high Loan to Values, RD loans also come with very good interest rates. Please feel free to contact us anytime about an Arkansas Rural Development loan.
USDA Arkansas Purchase Loans
Primary Residential Mortgage specializes in sservicing first time home buyers. A USDA Mortgage offers several advantages, as it is very popular with first time home buyers, so you should expect lower interest rates and ZERO Down Payment in relation to other loan types.
Great things are going on with USDA Arkansas Home Financing- USDA is one of only a few options left for no money down financing and you will most certainly want to stay up to date with with income limit changes, and USDA Mortgage news so please feel free to contact us any time for updates.
We make the process of buying a new home or refinancing your current home easy and straight forward by offering you the latest in mortgage tools set forth by our underwriting department. This will allow you to make the most accurate mortgage decision. Buying a home or refinancing your current mortgage should not be stressful. Please contact us for up to date mortgage rates and any other quesitons you may have. You can reach us anytime by phone or just by filling out the form below.
When FHA did away with seller contributed gift funds, the USDA better known as Rural Development or RD loans became one of the two programs of choice for buyers looking for 100% financing (VA being the other). Arkansas home owners are not new to RD loans but they have become a much more sought after product in the last 2 years. Here are a few of the highlights of the RD loan program:
- No down payment - true 100% financing
- No cash reserves required
- No asset limits: you may keep liquid cash savings and other investments
- Not just for first time homebuyers - anyone may qualify
- Loan up to 102% of the appraised value - the 2% guaranteed fee may be added to the loan amount regardless of appraised value.
- Competitive 30 year fixed interest rates
Eligible USDA Rural Designated Areas in Arkansas
If you are considering purchasing a house in an area that is designated “rural”, the RD loan is the way to go. On top of the high Loan to Values, RD loans also come with very good interest rates. Please feel free to contact us anytime about an Arkansas Rural Development loan.
USDA Arkansas Purchase Loans
Primary Residential Mortgage specializes in sservicing first time home buyers. A USDA Mortgage offers several advantages, as it is very popular with first time home buyers, so you should expect lower interest rates and ZERO Down Payment in relation to other loan types.
Great things are going on with USDA Arkansas Home Financing- USDA is one of only a few options left for no money down financing and you will most certainly want to stay up to date with with income limit changes, and USDA Mortgage news so please feel free to contact us any time for updates.
We make the process of buying a new home or refinancing your current home easy and straight forward by offering you the latest in mortgage tools set forth by our underwriting department. This will allow you to make the most accurate mortgage decision. Buying a home or refinancing your current mortgage should not be stressful. Please contact us for up to date mortgage rates and any other quesitons you may have. You can reach us anytime by phone or just by filling out the form below.