USDA Loans Direct welcomes you to the home of the first national capital, Philadelphia, with one of the most accessible home purchase programs around. Surely you don’t mean to say there is no snug little place in the American Northeast where you can select a home to live your years away! This is why USDA mortgage Pennsylvania extends the most unhindered financing help of any government program in the state.

 Implication of the 100 Percent Loan-To-Value

Once you apply for USDA mortgage PA, you will be literally taking advantage of one hundred percent financing as it appears below:

• 100% Loan-to-value (LTV) means that you pay no dime above your loan amount. In other words there is no down payment.
• Note that you may also roll in the Guarantee Fee of 2% onto the loan to avoid upfront costs. This makes the LTV in reality 102%. In a conventional situation, this would be 120% because of 20% money down.

Extra Benefits

Other than the direct advantages of USDA mortgage Pennsylvania, you will also readily avail any of the following extra benefits:

• A seller concession where home retailers settle at least 6 percent of closing costs.
• Relaxed financing rules that allow kinsmen, friends and sponsors to contribute to the closing costs.

If you are considering any of the above two beneficial choices, just talk to our loan specialists. We have been facilitating seller settlements for years on USDA mortgage PA.

A Note on Important Pre-qualifications

Before you append the signature to the approval form, you will undoubtedly have passed through these simple eligibility guidelines. You just need to answer the following questions:

• Do you have a credit score of at least 620?
• Is your employment chronology extending 2 years up to the application date?
• Do you have any other property? You would need to sell it first before applying especially if you are a first time applicant.
• Are you from a Rural Development-designate area? USDA mortgage Pennsylvania covers urban centers of about 20000 persons, non-urban regions and non-metro jurisdictions of cities.

How to Make Your Application

USDA Loans Direct does not demand any more than the following guidelines for submitting your application:

1. Submit your request with a home value within your budget.
2. Pass the easy pre-qualification test.
3. Find a lending partner with certifications.
4. Undertake home appraisal.
5. Receive approval for USDA mortgage PA.
6. Start repaying in easy monthly installments.

This is indeed the perfect time to make a bold decision to settle in a home near the Mid-Atlantic. With 100 percent financing and no money down requirement, USDA mortgage Pennsylvania is one of the easiest schemes around. Finally, there is an amortization period of 30 years at a permanent and low rate that will never increase.
Helpful links for you to review:

USDA Loan

USDA Down Payment Assistance

First Time Home Buyer

USDA Rural Development Loan