American Financing is an approved lender for USDA mortgages. A USDA loan applies to properties located in a rural areas, and these rural regions are defined as open country, places with population of 10,000 or less, and under certain conditions some cities and towns may fall within the guidelines.
USDA home loan programs can be used for refinancing and existing mortgage loan or the purchase of a new home. There are many benefits to a USDA loan:
The guidelines for a USDA mortgage require that the owner occupy the property, it does allow the borrower to purchase condos, manufactured home, unit developments and single family homes. These loans also do not have a maximum mortgage loan amount and the borrower can finance 100% of the appraised home value.
With interest rates still extremely low, and you meet the guidelines above, it would be a smart choice to see if you qualify for a USDA home loan refinance, giving you the security that your payment would remain the same throughout the life of the mortgage loan. If you are questioning if your property would fall within the parameters of a USDA loan, call us today and we can walk you through eligibility.
American Financing is a National Mortgage Banker
Make the call today and see how we can help with your USDA loan refinancing. Contact American Financing at (866)-750-6551 or complete one of the online applications and let our expert team guide you through your USDA loan.