USDA Home Loans
USDA home loans are extremely popular because they are a no down payment mortgage program. USDA mortgages are sometimes called Rural Housing home loans because the property must be in a "rural area" to qualify, but the definition of rural is pretty liberal. There are only a few places in Northern Utah and Southern Idaho that don't qualify for a USDA home loan.
USDA mortgages require mortgage insurance, both upfront and monthly.
There is a great refinance program available for individuals who currently have a USDA home loan. The USDA streamline refinance doesn't require a new appraisal or credit report, which eliminates a lot of hassle, saves money, and speeds up the refinance process.
USDA Home Loan Options
0% down payment, 30 year fixed rate mortgage, 5.515% annual percentage rate (as of 11/28/2018)
Note: The annual percentage rate is different from the interest rate. An annual percentage rate includes the interest rate and other costs, such as mortgage insurance. For interest rate info, please give us a call.