Of course, these changes are only meant to supplement the benefits that already exist; you can still use a USDA home loan to purchase or refinance a property. However, as has always been the case, refinancing must be done on your primary residence, and there is no “cash out” option. Other than that, the loan’s well-known benefits still remain: 100% financing, no asset or automatic reserve requirements, no monthly mortgage insurance, but there is an upfront funding fee to the loan as well as mall monthly fees for the life of the loan.
Interested in obtaining a USDA home loan? Get started by talking to an established Sacramento mortgage broker like Iron Point Mortgage today
http://ironpointmortgage.com/obtain-a-usda-loan-with-the-help-of-a-sacramento-mortgage-broker/
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