Tupelo USDA Loans
USDA loan rates change daily and vary depending on your unique situation. Get your FREE customized quote here!
USDA Loans in Tupelo, Mississippi
Are you considering a house in greater Tupelo, Mississippi located in a scenic rural spot? If so, you might think about taking advantage of a USDA Loan provided by The Mortgage Link. This popular financing option, which has backing from the U.S. Department of Agriculture, comes with considerable benefits. How about a mortgage with no money down? Competitive interest rates? Maybe you’ll be enticed by low monthly insurance payments.
While designed for homeowners who live in less-developed areas, USDA Loans don’t only apply to homes in remote places; some suburban spots also qualify for USDA eligibility. Your real estate agent or mortgage lender will be able to fill you in on the areas that comply with the requirements. So if you’re looking to steer clear of congested city life and settle down somewhere with ample outdoor space, a USDA Loan may be what you need.
A minimum credit score of 620 required.
Ready to learn more about USDA Mortgages? Call Us today at (205) 495-0313
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Good Reasons to Go USDA
- Competitive interest rates compared to FHA and conventional loans
- 100% financing means zero down payment
- No limit on loan size
- Most of the U.S. states have eligible areas
- Early payoffs don’t come with penalties
- For all kinds of homes, such as townhomes, condominiums, and traditional houses for families
- Both repeat buyers and first-time home buyers could be eligible
- A 20% down payment usually eliminates the need for mortgage insurance
- Some closing costs, as high as 6% of the asking price, can be covered by the seller
- Compared to conventional mortgages, requirements for credit scores may be lower
- Monthly insurance through fees that can cost less than private mortgage insurance
- If an appraisal values a house above the asking price, some closing costs could get rolled into the mortgage