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The Benefits of a USDA Home Loan
- HomeStar Financial Corporation is the Lender...Georgia's #1 USDA Lender
- Loan Amount Can always be 100% of appraised value - the appraised value can only be exceeded by the "Guarantee Fee" for a total of 102%
- One time Guarantee Fee of 2% of loan amount for ALL purchases
- The Guarantee Fee may be financed into the loan in ALL cases
- The Guarantee Fee is 1% for USDA Refinances
- No minimum cash contribution - very little or ZERO CASH needed to close in most cases
- The Loan Amount is NOT LIMITED to lower of appraised value or purchase price
- Customary closing costs and repairs can be financed up to the appraised value, AND the Guarantee Fee can be financed into that amount
- 30-Year Fixed Interest Rate Loan – Market Rates!
- No Prepayment Penalty
- No reserves required
- No maximum seller contribution or maximum gift amounts – Purposes are limited
- Not limited to first-time homebuyers
- Homebuyer Education Certificate required for ALL First-Time Homebuyers
- Primary Residence Only – Single Family/Owner Occupancy Required
- New and existing homes allowed
- Property must be located in eligible “Rural” area – Check property eligibility here
- Non-U.S. citizens are acceptable with appropriate supporting documentation
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