With USDA mortgage Minnesota, you are on your way to the Promised Land of home ownership. With an affordable rate plus an equally attractive amortization period of 30 years, not mentioning the $0 money down, you are sure to be the next proud owner of a condo in your county.

USDA Loans Direct is your true partner through the pre-qualification stage, a very essential pass indeed.

Pre-qualification

In order to earn your first passport in the eyes of the home retailer, you need to acquire a pre-qualification report with these details:

• The amount you can afford to borrow.
• The feasible price of a house that suits your income.
• Approval signature from Rural Development or a qualified agent.

Perhaps you are now wondering: ‘do I have to pass through all this?’ Worry no more because we are here to help you pass the pre-qualification stage!

Apply For One of Two Loan Types via USDA Loans Direct

There are two options you can choose to go for in your USDA mortgage MN application. What do you prefer? Direct or Guaranteed Program? Let us show you which you qualify for before you apply:

1.   If you choose the Direct option, your income ought to be between 50-80 percent of AMI.

2.   If you go for Guaranteed, you ought to be a moderate earnings’ applicant at 115% of your area’s per capita.

Do you have a credit report? If not, let us comb the three national agencies for a provisional credit score. Though USDA mortgage MN requires 640, we can help you gain approval at 620.

What do you need to sign?

Now you are contemplating: ‘every time I hear there is anything to sign I know there is collateral.’ Stow those thoughts in a corner for another day, for all that you will sign is the title document at closing, as well as, the income statements and appraisal report. If you gain approval, wouldn’t it give you a jerk of joy to know that you will also thumb your sign to the effect that you have won a USDA mortgage MN?

Weighing Options

• Do I opt for an interest margin immediately or later? We can help settle immediately when rates are low or later, when rates are even lower, before you close the loan.
• Will I leave options open for future refinance? There is the Pilot program to save you that headache in the future.
• Do I choose a long-term plan? USDA mortgage Minnesota comes with a three-decade-long, flexible and low-rate, plan.

Time to Get Started

Going by the above guidelines, have you pre-qualified for USDA mortgage Minnesota? Do not procrastinate any longer. Take advantage of the current amicable conditions. Apply now.

Helpful links for you to review:

USDA Loan

USDA Down Payment Assistance

First Time Home Buyer

USDA Rural Development Loan