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USDA Home Loans

New York USDA Loan Income Limits

Posted in USDA Home LoansPosted by Shane LatzaUSDA Loan concept. Man holding book.

As of July 22, 2019, the USDA Rural Development Single Family Housing Guaranteed Loan Program has increased the USDA home loan income limits for all counties throughout the United States, including counties in New York State. While USDA loan income limits do vary based on geographic location and household size, this latest update has increased income limits across the board. Understanding USDA Mortgage Income Limits USDA home loans are intended to assist those with modest…

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USDA Loan Fees for the 2020 Fiscal Year

Posted in USDA Home LoansPosted by Shane LatzaHomeowner calculating changes in mortgage payments based on 2016 changes in USDA loan fees

The USDA Loan fees for FY 2020 are: an upfront guarantee fee of 1.0% of the loan amount, and an annual fee of 0.35% of the loan amount. These fees apply to both home purchases and refinance transactions during the 2020 fiscal year, which runs October 1, 2019 through September 30, 2020. On October 1st, 2016 the USDA implemented the changes to the loan fees, reducing the guarantee fee from 2.75% to 1.0% of the…

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How To Find A USDA Eligible Property

Posted in USDA Home LoansPosted by Maple Tree Fundingfamily of four sitting under the outline of a house

When shopping for a home, there are many factors to consider. One important factor to consider is the type of mortgage or home loan you will use to finance your home purchase. USDA mortgages offer a variety of benefits and advantages, and there are numerous areas throughout the state of New York where home purchases do qualify for USDA home loans. This leave many NY home buyers curious as to whether or not they are…

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How To Apply For The USDA Loan Program

Posted in USDA Home LoansPosted by Maple Tree Fundingloan paperwork

The United States Department of Agriculture (USDA) offers a home mortgage program that allows a borrower to receive a 100% financing home loan. There are a variety of benefits to using a USDA mortgage to finance your home, and a number of eligibility requirements you must meet in order to qualify to do so. For more information about USDA home loans, please visit our USDA Mortgages page. How to Apply for a USDA Mortgage in New…

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Do I Qualify For a USDA Loan?

Posted in USDA Home LoansPosted by Maple Tree FundingA small model home on an iPad with paperwork alongside it

If you’re interested in buying a home in a rural area of New York state, a New York USDA loan may be a good mortgage option for you to consider. USDA mortgages are designed to help people purchase homes in designated rural areas. Offered by the United States Department of Agriculture, these loan programs allow for 100% financing and offer a number of additional benefits to homebuyers, including: Competitive interest rates No cap on seller’s concession (based…

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