HomeTown Lending: The Most Invaluable Benefits Of USDA Loans
Dallas, United States - February 19, 2024 / HomeTown Lending /
Have you been wondering if a USDA loan is right for you? You may be curious about applying for USDA loans in Dallas, TX if you will be living in an area marked as rural. There are several ways to acquire a home loan, and the requirements are different when it comes to getting a USDA loan. There are five invaluable benefits of these loans you'll want to know about right away.
There Is No Down Payment
Did you know that there is no down payment for a USDA loan? USDA loans are quite popular due to the number of ranches and farms. These loans can also be written for businesses as well. There is no down payment requirement, making it an easier choice for those with very little to put down. The backing of the loan is from the United States Department of Agriculture, and they are promoting the use of the loan. HomeTown Lending can answer all your questions regarding this loan's no-payment requirement and other unique aspects.
Easier Credit Score Requirements
Did you know that one of the unique aspects of the USDA loan is that there are more lenient credit score requirements? Credit scores are less important; therefore, the scores can be lower than what would be required for a conventional loan. Learning more about USDA loans is worth the time, especially if you want to own some land. HomeTown Lending is proud to offer its services to you whether you are choosing to make your home in a rural area or a specific suburban area.
Assistance With Closing Costs
Did you know that one of the benefits of getting a USDA loan is that you can get assistance with closing costs? Closing costs are often a sore point for many home buyers. This is an expense that can range anywhere from 2% to 5%, but with USDA loans, it is much different. You can roll the closing costs into your loan and pay it down in installments as you make your monthly payments. These loans are designed to encourage purchasing a home and a house on land.
Better Interest Rates
The way that USDA loans are designed also offers better interest rates. The program is designed to encourage families to buy homes in rural areas. The state desires that the land be put to use rather than lay dormant so the process is more straightforward and the interest rates overall are much better. HomeTown Lending can review your interest rates for all loan types and compare them to USDA loans.
HomeTown Lending - USDA Loans Are Assumable
There are loads of opportunities in Texas for these types of loans. Take a moment to review the website for HomeTown Lending and all that we have to offer. We are the experts in home loans, and we can assure you that we will do all that is possible to get you the home you deserve with the right home loan. You can use our online contact form to touch base with us regarding setting up an appointment to help you get started with mortgage loans in Dallas, TX.
Contact Information:
HomeTown Lending
12770 Coit Rd Suite 1220
Dallas, TX 75251
United States
Contact HomeTown Lending
(972) 322-4472
https://hometownlend.com/
