Maryland USDA Loan

 

Want to own a home in Maryland without putting anything down? Why not try the USDA loan. Typically, when lenders offer mortgage loans with little to no down payment, they usually charge very high interest rates to cushion themselves against any loan-associated risks, like if you fail to make your payments. But that is not the case with the USDA loan. You can get it with zero down and still enjoy low interest rates and up to 100% financing. Add that to the fact that you will pay very low monthly mortgage insurance and you will see that the USDA loan is better than most other options by far.

The distinctive feature of this mortgage is the type of eligible property. You can only use it to finance a home that is in a rural or suburban area. In Maryland that includes any area with a population of 35,000 at most. Once you’ve found an eligible property, you will then apply for the loan. Your Maryland lender will check to see whether you qualify for the USDA loan. Some of the things they will look at include your credit score, income, and debts. We have outlined those requirements with specifics of what lenders look at in details, so be sure to read on to see if you qualify. You will also find information on the various types of Maryland USDA loans and why we think this mortgage loan is might be right for you.

In case you need to apply for a Maryland USDA loan we can help you get the best mortgage deal. At TJC Mortgage we take pride in being the leading mortgage brokers in and around Maryland. We have helped many residents in acquiring marvelous housing, and we are ready and willing to do the same with you through the USDA loan. Get in touch with us and we will start the process.

Maryland City Mortgage Service Areas