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What is an RD/USDA Mortgage Loan?

What is an RD/USDA Mortgage Loan?

An RD/USDA Mortgage Loan is a home loan backed by the United States Department of Agriculture (USDA), designed to help low-to-moderate-income households purchase homes in eligible rural and suburban areas. These loans offer favorable terms, including no...

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Do USDA loans require mortgage insurance?

Yes, USDA loans require mortgage insurance. There is an upfront guarantee fee, which can be financed into the loan, and an annual fee that is paid monthly. However, these costs are generally lower than the mortgage insurance premiums for FHA and...

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What is the USDA loan process?

The USDA loan process involves several steps: Pre-qualification: Determine if you meet basic eligibility requirements. Pre-approval: Submit financial documents for a more detailed evaluation. Property Selection: Find a home in an eligible...

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