What is the difference between a USDA Home Loan Arizona instead of a Mortgage?

Why might I need a USDA Home Loan Arizona instead of a mortgage?

First let me define what a USDA Home Loan Arizona is so you have the information. A USDA Home Loan Arizona is essentially a mortgage loan, but offered mainly to those who own rural property. It is offered by the United States Department of Agriculture It is not the typical mortgage in that USDA Home Loan

Arizona requires no down payment, and may be financed up to one hundred percent of the property value. You also must meet the income limit restrictions in the county you reside in. the property must also be in a rural area as defined by the USDA. This loan’s purpose is to provide loans and grants to those who are very low income homeowners in order that they may make repairs, improvements and to modernize. It is also to make sure that their homes are up to date and modernized so that there are no health or safety hazards.

Now, if your needs lay in these areas, than this might be a better option. It may be harder for you to get a mortgage because of a whole host of problems. USDA Home Loan Arizona are designed for people who are having a hard time getting a loan. If this is you, check out USDA Home Loan Arizona.

Are there more requirements for a USDA Home Loan Arizona?

As with most loans, people are not just going to be handing out money. You have to be able to show that you have a pretty good credit score. Even if you have had bad lapses in the past, if you have been rebuilding it within the last twelve months you have a shot!

They also like to see that you have had a job for the last couple of years. But this is a great alternative to a mortgage if you are looking for one. So choose USDA Home Loan Arizona!

Dennis Dahlberg
Broker/RI/CEO/MLO

Arizona Home Loan
Setabay Home Loan
Tel:  (623) 582-4444 | Fax: (888) 279-6917
www.Setabay.com
NMLS 1057378 | AZMB 0923961 | MLO 1057378
23335 N 18th Drive Suite 120
Phoenix AZ 85027