USDA Loan Calculator for PA
The
United States Department of Agriculture offers a mortgage with no
down payment through the USDA Loan program. Homebuyers in
Pennsylvania who wish to purchase a home in an approved area may do
so using the USDA program.
The FHA Loan and the USDA Loan are quite similar.
Mortgage insurance that is paid in advance and every month is less
costly. The home seller may partially cover the buyer's closing
costs. The USDA Loan Calculator will determine the USDA Loan's loan
amount and monthly payment.
What is a USDA Home-loan?
The USDA loan, commonly known as the USDA Rural Housing
Loan Program, is a 30-year fixed-rate mortgage for low to moderate-income
first-time homeowners.
The property must be in a USDA-approved Pennsylvania region. A down
payment is not required for the USDA mortgage loan (100 percent financing
plus the guarantee fee). The USDA loan is a zero-down payment mortgage
program.
Special Financing From the Pennsylvania Housing Finance Agency
(PHFA)
The Pennsylvania Housing Finance Agency offers below-market
interest rates to first-time and non-first-time homebuyers who use a
USDA Loan to acquire a house. PHFA also provides a loan for down payment/closing
costs.
Read more about USDA
Loans at USDALoanPlus.com
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