FHA Is Not The Only Choice For Buyers--Why Not Try USDA? It's Choice!

Since NOW is such a great time to be considering a home purchase, with interest rates at historical lows, and really tremendous deals on all types of homes, it also pays to check into ALL available options on home loans!

While I typically will advise an FHA loan for many of my first-timers and even second-or-third offenders if they haven't bought in 2-3 years, the USDA loan is another really good option, especially for buyers who just don't have access to a 20% + down payment, but they do have a good, stable work history and decent credit.

Some of the advantages of a USDA-backed loan are that there are no minimum down-payment requirements, which even FHA is raising from 3% to 3.5%, and in fact a USDA loan can cover up to 102% of the value of the property, factoring a 2% insurance fee to cover loan losses. These loans also do not require additional mortgage insurance.

For more information on the USDA housing program go to: USDA Housing, or for eligibility requirements see: USDA

To search for available homes in the Tampa Bay area, go to: Real World Properties Online

and...Have a Beautiful Day!