Guide to USDA Home Loans
Understanding the USDA Home Loan Process
Posted in Guide to USDA Home LoansPosted by Maple Tree Funding
USDA home loans offer a number of benefits, which make them a popular option among many of the home buyers we work with. They provide the option for 100% financing, flexible qualification standards, and competitive interest rates, among other advantages. As a result, they are a financing option that gives some who might not meet the qualification standards for other mortgage types the opportunity to purchase a home. Curious about the USDA home loan process?…
Continue Reading »New York USDA Loan Income Limits
Posted in Guide to USDA Home LoansPosted by Shane Latza
As of May 4, 2020, 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…
Continue Reading »USDA Loans for First Time Home Buyers
Posted in Guide to USDA Home LoansPosted by Maple Tree Funding
Purchasing your first home can be an exciting and, in some ways, overwhelming experience. With many mortgage options to consider, one of the most overwhelming aspects of home shopping for first time home buyers is often the process of understanding, evaluating, and selecting the best financing option. For many first time home buyers in rural areas of New York, USDA home loans are an ideal financing option. Considering a USDA mortgage? We review some of…
Continue Reading »What are the Advantages of a New York USDA Mortgage?
Posted in Guide to USDA Home LoansPosted by Maple Tree Funding
Whether you’re purchasing your first home or you’re looking to relocate from your current home into a new house in New York State, a USDA mortgage could be a great option. With competitive rates, flexible requirements and no down payment required, NY USDA loans are a popular choice among the home buyers who qualify. Curious about the benefits and advantages of USDA mortgages? We review 6 key ‘pros’ of New York USDA mortgages here. USDA…
Continue Reading »FHA Loans vs. USDA Loans
Posted in Guide to FHA Home Loans, Guide to USDA Home LoansPosted by Maple Tree Funding
When choosing a loan program, it’s important to understand your options. Let’s take a look at two different types of popular government loan programs – FHA loans and USDA loans – and how they compare to one another. Weighing Your Options: FHA Loans vs. USDA Loans Government mortgages are backed by the government, as their name indicates, meaning that the government ensures repayment to the bank or lender if you happen to default on your…
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