USDA Guaranteed Loan
The USDA Guaranteed Rural Development Home Loan Program is available for purchases and refinances in Mississippi. This program has no credit score or income requirement. It offers 30 year mortgages with fixed and adjustable rates with little to no money down. The program is based on income affordability and individual credit profile. Candidates with no credit and past credit problems are considered. Qualifications are on a case by case basis. The only way to determine if you qualify is to apply. All applications are accepted and reviewed for processing.
Today’s renter is debating whether it’s a good time to buy. My answer, if you’re currently renting, it’s the perfect time. Renting a 1,000 square foot apartment in a safe neighborhood for your family, has an average cost in Mississippi of $800-$1,000.00 per month. This program with today’s home prices can possibly purchase a 1,500 square foot home for about $80,000, $400-800.00 per month. Keep in mind, this depends on the loan product and interest rate. The concern most potential homeowners have is, “What if I loose my job.” My answer, “You will still have to furnish shelter for your family.” Renting clearly compromises your financial well being and can be increased at the landlords will. No equity will never be gained renting. Purchasing a home will give you future opportunity to gain equity.
If you’re currently building your dream home, contact me today and secure permanent financing. You could possibly qualify for 100% financing, zero down with no credit score requirement on the USDA Guaranteed Rural Development Home Loan Program. Several other home and land programs are available.