Check Out the Benefits of a USDA Loan
USDA loans offer several benefits when compared to other traditional home loan options. You receive a 30-year fixed rate with extremely low-interest rates. There’s no down payment or money out of your pocket required, especially if you ask the seller to pay their share (up to 6%) in closing costs. Mortgage insurance on these types of loans is also quite low when compared to conventional or FHA home loans. You also get access to a streamlined refinancing option that’s only available to USDA homeowners.
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MegaStar: A USDA Loan Expert
There are a few important notes about USDA loans. You must have the funds to pay your mortgage insurance payment on time. You must also be able to pay a small fee for an upfront guarantee that’s required on USDA loans. This is rolled into the cost of the loan. There are strict income limitations for buyers. These types of loans tend to take longer to be approved than other types of loans. There are only certain areas where USDA loans are available, luckily Shasta County is one of these areas.
Income and Property Location Eligibility
The experts at MegaStar Financial are the trusted providers of USDA home loans in Redding, California. If you’re searching for a loan that works for you, let our experts help you find a loan that will best fit your needs. Can’t make it to the office? Reach out by phone at 530-999-9000.