USDA Loans

About our USDA Loans

This product offers 100% financing for qualified buyers as long as they fit into a geographic and income bracket In order to be eligible for many USDA (United States Department of Agriculture) loans, household income must meet certain guidelines. Also, the home to be purchased must be located in an eligible rural area as defined by USDA

Requirements

  • Meet Income-eligibilty
  • Agree to personally occupy the dwelling as their primary residence
  • Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien
  • Have the legal capacity to incur the loan obligation
  • Have not been suspended or debarred from participation in federal programs
  • Demonstrate the willingness to meet credit obligations in a timely manner
  • Purchase a property that meets all program criteria

Features

  • No down payment required
  • 620 minimum Fico score for most lenders
  • Low amount of monthly mortgage insurance required
  • One time financed Funding Premium is financed into the loan amount, much like FHA
  • Underwritten to general FHA standards
  • Competitive interest rates
  • 6% seller/lender contribution allowed

 

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FAIRWAY MORTGAGE - THE POTEMPA TEAM

5450 E High St #275
Phoenix, AZ 85054
NMLS – 454708
Phone: 480-418-4555
teampotempa@fairwaymc.com

 

Top 200 Mortgage Lenders - The Potempa Team

FAIRWAY CORPORATE

4750 S. Biltmore Lane, Madison, WI 53718
NMLS Entity ID # 2289
NMLS Consumer Access