Wednesday, May 17, 2017

USDA Rural Development Guaranteed Loan Program

Below are the USDA/Rural Development Guaranteed loan program’s newly published income limits for St. Charles, Jefferson, Lincoln, St. Francois, and Warren Counties.


St. Charles
Franklin
Jefferson
Lincoln
St. Francois
Warren
1  - 4 Occupants
$85,700
$85,700
$85,700
$85,700
$78,200
$85,700
5+ Occupants
$113,100
$113,100
$113,100
$113,100
$103,200
$113,100
* Income limits are based on total household income, not just the borrower(s) income on the loan.

Did you know...?

·         USDA loans are available for the purchase of a primary residence in an eligible area.  Curious about a property’s eligibility?  CLICK HERE to view USDA’s eligibility website.
·         USDA loans are 100% financing / $0 down. 
·         There is NO monthly mortgage insuranceInstead borrowers pay a “USDA Annual Fee” with their monthly payment that’s 0.35% of their loan amount. FHA’s monthly PMI is 0.85% so borrowers will typically pay less per month with USDA financing vs FHA.
·         USDA loans are NOT limited to first time homebuyers.
·         MINIMUM CREDIT SCORE REQUIREMENT:  600
·         Borrowers with no credit score may also be eligible for USDA loan financing.


Amy Hess
Senior Mortgage Banker
16150 Main Circle Dr. Suite 220
Chesterfield, MO 63017
Work: 314-872-0998 | Mobile: 573-291-2704 | Fax: 314-219-8575
NMLS ID: 58000 | Company NMLS: 224149 
ahess@flat-branch.com | flatbranchhomeloans.com 
http://www.fbtreehouse.com/wp-content/uploads/2014/09/button_apply_up.png


Post a Comment