Bellingham USDA Mortgages

I am able to offer USDA mortgage loans through several of our lenders.  This allows us to provide the best rates and terms, as well as offer the quickest turnaround times on this excellent mortgage loan program.

USDA Rural Housing Loan Program Highlights:

  1. Loans may be for up to 102% of the appraised value or sales price (whichever is lower). A one time 2% guarantee fee can be included in the loan which is how the loan can go up to 102%. This feature allows buyers to finance this expense into the loan amount versus paying it out of pocket.
  2. No PMI (private mortgage insurance)
  3. Secure, fixed-rate 30 year mortgages
  4. Sellers can assist with paying the buyer’s closing costs
  5. Little cash reserves needed for qualified borrowers.

Partial List of Eligibility Guidelines for USDA Rural Housing Mortgages:

  • Home-buyers must be United States’ citizens, qualified aliens, or legally admitted to the U.S. for permanent residence.
  • Adjusted annual household income cannot exceed the moderate income limits for the area. A family’s size and child care considerations may increase chances for qualification if deductions are applicable.
  • Primary residences only
  • Home must be located in rural areas. This may include open country, and places with populations under 25,000 residents. A Loan Adviser will be able to assist you in researching the eligibility requirements in your area.

Check to see if your property is eligible at the USDA website.

If you’d like to see how we can help, simply complete our mortgage quick quote form or our secure online mortgage application.