A USDA loan is a loan option offered through the United States Department of Agriculture - Rural Development. A USDA loan may be a good option to consider if your client:
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Expect to buy a home in a rural area
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Have less cash available up-front for down-payment and closing costs
Features
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Lending up to 100% of the appraised value of the home.
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Requires a one-time Guarantee Fee that may be rolled into the loan amount.
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Restrictions based on income and location.
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