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USDA 100% FINANCING – HAWAII
USDA 100% FINANCING – HAWAII
It is hard to beat the flexibility and great rates of USDA rural housing loans. These programs are geared toward homebuyers who live in rural areas of the Country and who have little to no money to put down. USDA rural housing loan programs offer flexible, common sense underwriting guidelines, relaxed credit requirements, no PMI (private mortgage insurance) options, the ability to finance closing costs into the loan amount, lenient seller concessions, and rates that are comparable to, if not better than, conventional fixed rate mortgage programs.
USDA Rural Housing Loan Program Highlights:
- Loans may be for up to 102% of the appraised value or sales price (whichever is lower). A one time 2% guarantee fee can be included in the loan which is how the loan can go up to 102%. This feature allows buyers to finance this expense into the loan amount versus paying it out of pocket.
- No PMI (private mortgage insurance)
- Secure, fixed-rate 30 year mortgages
- Sellers can assist with paying the buyer’s closing costs
- Little cash reserves needed for qualified borrowers.
- Minimum Fico of only 620 needed.
Contact me today to take advantage of this great program