Pennsylvania Mortgage News: June 2011

your guide to the Pennsylvania Mortgage Market * Programs * Rates * Information *

Buying a Home in Adams County PA with a 100% USDA Mortgage

Adams County Pennsylvania Mortgage

Using a 100% USDA mortgage is a great way to finance the purchase of your next home in Adams County, Pennsylvania. These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there. If the home appraisal allows, the closing costs can also be wrapped into the mortgage resulting in no money needed at the closing table. Interest rates for USDA mortgages are comparable to the low fixed rates of Conventional and FHA/VA financing.

Adams County has few geographic restrictions outside Gettysburg for Single Family Homes under the USDA program.  The USDA zoning map can be found here...

http://eligibility.sc.egov.usda.gov/eligibility/eligibilityAction.do

 

 

Benefits of a USDA Rural Development loan include:

  • True 100% no money down financing.
  • The ability to finance in your closing costs (if the appraised value supports the loan amt)
  • The seller may contribute up to 6% of the purchase price towards your closing costs
  • No Mortgage Insurance
  • Low interest rates.
  • More flexible qualifying guidelines with minimum 620 credit score

 

 

USDA mortgages do have income restrictions so click here to check on those...

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=pageLoad&requestInfo=GuaranteedIncomeLimits&NavKey=incomelimit@12

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Keith Landis is a Licensed Mortgage Loan Officer covering all of Pennsylvania.  He can be reached directly at 412-567-6560 at klandis@keystonehomefinance.com 

NMLS # 137243

 

Keystone Home Finance LLC - NMLS# 834342

 

www.keystonehomefinance.com

 

Comment balloon 0 commentsKeith Landis • June 07 2011 04:37PM
Buying a Home in Adams County PA with a 100% USDA Mortgage
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Using a 100% USDA mortgage is a great way to finance the purchase of your next home in Adam s County, Pennsylvania These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there… more