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Alabama USDA Loans
US Department of Agriculture
Are you ready to own a home in a rural area? The US Department of Agriculture has a “guaranteed” loan program that is aimed towards helping individuals and families purchase a home in a qualified area. However, just because it is “guaranteed” loan doesn’t mean you are guaranteed the loan. The funds are available to the lender, should you default on your payments. You still must qualify for the “guaranteed loan.
Advantages of an Alabama USDA Loan
- The only no money down program available for borrowers not in the military.
- 100% financing
- Fixed rate for up to 30 years allowing a lower monthly payment
- Lowest Mortgage Insurance at 0.30%
- Lower income families and those with blemished credit qualify
Alabama USDA loans have been popular for the past several years because they make it more convenient to purchase a home due to the fact they offer zero money down with no mortgage payment. In 2009 the USDA program closed $16 billion in loans.
This is some basic information for finding out if you are eligible to qualify for an Alabama USDA Home Loan. Please do not disqualify yourself based on the information you find in this article. Every applicant is different and has different eligibility scenarios. Most people may think they do not qualify for a USDA Home Loan, then after meeting with a Home Town Mortgage Loan Officer they find out they do! Please let us give you an official qualification. Don’t do it yourself.
USDA PROPERTY ELIGIBLITY
You have heard about the 100% Financing Home Loan Program right? Home Town Mortgage Services wants you to find your Alabama Home for Sale as well as qualify for the USDA Home Loan Program. Find out more information about what properties qualify your for the 100% Financing USDA Home Loan.
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Do You Qualify for USDA
Are you looking for your Alabama Home for Sale and wanting to get 100% Financing? At Home Town Mortgage Services we offer the USDA Home Loan Program if our borrower are looking in a rural area and don’t exceed the income limits that USDA has set for there county. Unlike most loans that have a loan limit, USDA Home Loans have income limits.
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USDA Credit Eligibility
USDA Home Loans were designed for borrowers who have moderate income. If you are a borrower looking to purchase an Alabama Home for Sale in a rural area and have a 640 FICO score or higher then you may qualify for the USDA Home Loan Program with Home Town Mortgage Services.
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Who Are We?
Home Town Mortgage Services as been help buyers accomplish their dream of owning their own home since 2007. Part of our success is that our staff specializes in all Alabama Home Loans and are also FICO Pro Certified. One thing that our borrowers can always expect from our staff is a professional environment and customer service that exceeds their expectations.
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Prepare for Your New Home
Before purchasing your Alabama Home for Sale you want to ensure that you are financially prepared. A great way to get financially prepared to become a home owner is identifying your expenses. You may do this by creating a budget. Home Town Mortgage Services has provided the tools for you to get financially prepared.
Get your Budget Today!
First Time Home Buyer?
Are you looking to purchase an Alabama Home and are a first time home buyer? At Home Time Mortgage we understand that as a first time home buyer it can be a little confusing and sometimes frustrating to start the process. Let one of our specialized Loan Officers help make this process simple and stress free.
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