Adrian Citroni, an experienced Mortgage Broker in Catonsville says, "You don’t have to move to the sticks in order to get a USDA Rural Loan."
Adrian Citroni, an experienced Mortgage Broker in Catonsville.says, " You don’t have to move to the sticks in order to get a USDA Rural Loan.
A USDA loan is a United States Department of Agriculture mortgage program. Since it is backed by the government it provides for lower interest rates and lower down payment requirements than conventional and FHA loans.
It is also called the Section 502 Direct Loan Program.
The program assists low, and very low income applicants obtain safe, decent, sanitary housing in eligible rural areas, there are income limits.
There is a requirement for Employment History, The borrower must have a 2-year work history verified with W-2 forms from the previous 2 years and pay stubs or earnings statements for most recent 30 days.
Although Eligibility is restricted to Owner Occupied, Single Family homes in a non-urban areas. However, many suburban properties qualify. You can check to see if the address you are considering qualifies at the USDA Eligibility Site or just search the map to review general eligible areas.
The USDA Home Loan Mortgage permits - No Down Payment and Closing Costs and Prepaid’s can be financed in the loan amount if the appraised value is higher than the purchase price.
ADRIAN CITRONI - MORTGAGE BROKER
Primary Service Area: Catonsville & Vicinity
Academy Heights, Arbutus - Halethorpe, Catonsville, College Hills, Elkridge, Ellicott City, Oella, Westchester
Licensed Loan Originator NMLS# 144522; MD - DC - PA - DE - VA - FL - CA
CALL OR TEXT: 410-916-0776