In the Triangle, we are lucky to have such a large area that qualifies for USDA financing on mortgage
loans! This program offers a 100% loan for homebuyers who qualify with properties located in the more “rural” parts of the area!Does that mean it’s just for a FARM? Oh NO! This is for your home, not for income producing farms. The loans do have a guarantee fee of @ 3.5%. This means that if you purchase a home for $100,000 (I only use this example since I can do this math in my head) then you will have an additional fee of $3500 added to your loan.
Remember, the USDA Home Loan Maps could be changing March 27, 2013… in fact, almost 1/3 of North Carolina could LOSE the ability to do USDA Home Loans! Yikes!
