Have You Ever Heard of USDA?

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MINT HILL, NC – As we spoke about last week, if you qualify for a VA loan – active duty, veteran, or surviving spouse –  then one can obtain 100% financing, with no down payment.  Of course, that is a phenomenal loan for the service members and their families, but it is not the only option to purchase a home with no down payment! The second option, which is equally as good, is a USDA loan.  This loan is backed by the US department of agriculture and is what they consider a “rural housing loan.”  The product was established long ago to “improve the economy and quality of life in rural America.” Essentially giving buyers the ability to put no money down, obtain a reduced interest rate, and even finance in the closing costs if the home appraises for more than the purchase price.

Now the caveat is that the home does have to be in an eligible USDA area, and you must meet their program guidelines: household income limits, credit score, etc.. The great part is that here in Mint Hill, we have a massive USDA-eligible area only minutes/miles up the road.  Therefore, it may be wise to open up your search just slightly and inquire about these “USDA areas,” to take advantage of the savings/homeownership it could provide.

If you are to have any questions as to what the qualifications of a USDA 100% financing home loan would entail, or where the approved areas may be, please do not hesitate to call, text, or email (704) 430-6138 – brandon.wolf@primisbank.com)

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Brandon Wolf
Brandon was born and raised in the Mint Hill area and graduated from Independence High School. He went on to play college baseball at Wingate University. Brandon met his wife at Independence HS, dated all through HS, college and got married right after college (they have a little boy due in September). Brandon has been a Mortgage Loan Officer, in Mint Hill, for over 7 years. "Mint Hill is more than the place I work, it's been my home. I grew up, played baseball, met my wife. I truly love helping people get mortgages in this town I have always called HOME" says Brandon.