As you take into consideration the wide range of home loan options available today, you may be quite unsure what type of loan is best suited for your needs. Consider what a USDA mortgage in Asheville, NC, could mean for you financially. For many people, this type of mortgage is ideal because it keeps costs down while providing better access for borrowers. Is it right for you?
What You Should Know
The USDA mortgage is designed to provide access to affordable housing for those who live in rural parts of the state. These loans are typically for first time home buyers or people who have had no ownership rights in a home in the last three years. It must be on a loan that is in a restricted area, and your lender can help you determine if that fits your property. If you meet these requirements, there are some key benefits to these loans.
For most people, they are highly affordable because they do not require you to have a down payment. That means you can finance up to 100 percent of the value of the home. Interest rates on these loans are also competitive and often lower than what you may pay for a conventional mortgage loan.
Getting Into a Program To find out if a USDA mortgage in Asheville, NC is the right decision for your needs, reach out to a lender. Learn more about the program features and benefits and then dive in to apply.
