USDA House Loans The USDA (United States Division of Agriculture) Home Mortgage is really a very small recognized 100% financing house loan obtainable to individuals buying houses in rural locations of California and the rest from the U.S. This truly is another choice for those who qualify for VA mortgage, but might already have a VA in location and require another 100% financing solution (you are in a position to only have one VA mortgage at a time). There are many locations that are surprisingly regarded “rural” according to the USDA. Even places which are much less than one hour from primary California cities for example San Diego, Los Angeles, San Francisco, Fresno, Riverside, and San Jose. The USDA house loan system is truly a great loan plan that not many house purchasers make use of because they just plain haven’t heard about it! Some highlights of USDA House Loan: * 100% financing, ZERO down payment required * No monthly mortgage insurance coverage strategy (unlike FHA and conventional loans (with <twenty% down) that carry monthly mortgage insurance coverage strategy * Excellent 30 year fixed interest charges at historic lows * You do not have to be a initial time purchaser to qualify for a USDA loan * Seller can pay for all your closing costs Here are some additional requirements of USDA Home Loans: * Your earnings requirements to be inside 115% of the area median earnings * A USDA mortgage is only allowed on your primary residence * USDA loans are for purchases only, not refinances Below are some selected locations in California that qualify for USDA Loans. This truly is not an exhaustive checklist, just a sampling: San Diego County * Alpine, Ramona, Valley Middle, Campo, Julian, Rainbow, Pauma Valley Riverside County * Desert Scorching Springs * Coachella * Sun City * Winchester * Idyllwild San Bernardino County * Lake Arrowhead * Large Bear Imperial County * Almost the whole county Sonoma County and Napa * Windsor, Healdsburg, Guerneville, Calistoga, St. Helena, and much more Contra Price, Alameda, Solano * Byron, Rio Vista, Isleton Placer, Sacramento, San Joaquin, El Dorado * Lincoln, Auburn, Ripon, Lathrop Central Valley Counties * Tehachapi, a lot of the towns surrounding Bakersfield, Fresno, Modesto, Merced, Redding and more qualify Monterrey, Santa Cruz, San Luis Obispo, Santa Barbara, Ventura * Boulder Creek, Scotts Valley, Moss Landing, Prunedale, San Juan Bautista, Paso Robles, San Miguel, Morro Bay, Solvang, Santa Ynez, Carpentaria, Ojai So if you already have a VA loan on one house and you would like to get 100% funding, inquire about 100% USDA funding. So give us a call or email these days if you have any concerns about USDA Rural Improvement Home Loans. Immediate 858-922-7899 and email rob@affinity-financial.com. Warm Regards, Rob Chomentowski Sr. Loan Officer homeloan8@gmail.com 858-922-7899 (direct)
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