There are so many home loan programs out there when you begin to shop for mortgages. Understanding the differences can be daunting and confusing, but understanding a little about your options can be very empowering. There are two popular home loan programs offered by government agencies: The Federal Housing Agency (FHA) and the United States Department of Agriculture (USDA). Each program has different qualifications and features. Know the differences so that you can get the best deal for your home loan. USDA Loans USDA loans are designed to make home buying feasible for families with lower to average income. If you are interested in buying a home in suburban or rural areas, USDA loans may be for you. There are two different types of USDA loans: Direct and Guaranteed. Direct Loan Direct loans are strictly for low-income borrowers. If your… Read More
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