USDA/ Rural Housing

** Minimum 600 credit score

** Seller Contributions Max 6% seller contribution allowed

** No Private Mortgage Insurance required. Upfront USDA Guarantee Fee of 2% can be financed into the loan amount for Purchase transactions and 0.5% for R/T Refinances

** No cash reserves required

** No minimum contribution from the borrower’s own funds required

** Occupancy Type Primary Residences (1 Unit)

** Purchases and Guaranteed Rural Housing Rate/Term Refinances

** Max Loan Amount $417,000

** Max Financing Amount (LTV) 100% Appraised LTV

** Interest-Only Option Not Available

** Loan Terms 30 Years

** Eligible Property Types 1 Unit SFDs, Warrantable Condos, PUDs, Townhomes and Modular Homes