In October the USDA Eligibility Maps changed for the worse. After the Government shutdown the USDA maps reverted back to the previous, more favorable maps. On January 15th the future maps go back into effect.
USDA guarantees loans for lenders for buyer in rural areas. This loan program offers buyers 100% financing at rates comparable to FHA and VA. Not only is the lack of a down payment a great benefit but the monthly mortgage insurance is a third of the FHA MI.
If you are interested in getting into a home for no money down at a great rate with low monthly mortgage insurance then USDA is your best bet, but move fast! The eligible areas shrink in January so act now!
Victory Funding offers USDA! The areas currently eligible still include Saratoga Springs – east of the Northway, the Village of Ballston Spa, Luther Forest, Voorheesville, Round Lake and many other areas that will soon be ineligible. Call Tim at 518-899-7700 for a pre-qualification and call Living Well Realty at 518-899-5000 to work with a professional Realtor.
