After spending many years or even perhaps growing up in the city, youre now raring to start a new life in the country. For most city dwellers, making the move can be really daunting. But for those who are simply tired of the hustle and bustle of urban living, nows the perfect time to make the change and start fulfilling their dreams of living in the country. And you should, too.
Living in the country is now made a lot easier with the Department of Agricultures Home Loan Program where eligible homebuyers get to choose and purchase their dream country homes anywhere in the United States. Thats a staggering 97 percent of all habitable places in the country, with the remaining 3% classified as urban centers.
The program is open to anyone who meets their simple requirements. For instance, one only needs a minimum of 640 in credit score to qualify for the programs automated underwriting system which expedites the mortgage application process. And in case you dont have the 640 points, you can still qualify but will have to go through the manual process of underwriting. As you may have guessed, this will take longer to finish. Nevertheless, you still qualify. And for those who dont have credit score, they are still eligible for the program by simply supplying evidence of non-traditional tradeline activities such as utility payments and the like.
But why would anyone want to get a USDA Home Loan, you might ask?
For starters, the program is only one of two mortgage platforms that can offer zero down payment for home purchases. The other one is VA loans. This means you no longer have to worry about shelling out cash for paying the down for your home. You can use this savings for hauling your things from the city into the country. You can also use the savings for setting up the other essentials in rural life that you may need such as electricity and water.
In addition to the no-down feature, the USDA Home Loan also offers more competitive mortgage interest rates as well as lower mortgage insurance rates compared to other government-mandated housing mortgage programs and conventional mechanisms. Again, you can use these savings to make the transition from city life to one in the countryside more successful.
Once youve settled in, you can begin living your dreams of making it good in the countryside. Know, however, that there will always be other challenges along the way. Just make sure that youve taken all of these into consideration before making the move.