PRMI is the most specialized one in providing USDA Loans although there are many sources from where you can get these USDA loans but it’s up to you to choice the best one for you. USDA Home Loan Advantages includes: No Down payment is required; No maximum purchase price limit; Closing costs can be financed in; Competitive fixed 30-year rates; Flexible credit guidelines. (Minimum credit score 620); Foreclosure ok after 3 years; Low monthly mortgage insurance; Can be used to purchase existing homes, new construction, or foreclosures; Bankruptcy ok after 2 year.
PRMI consider their customers as their neighbors, and run to help in any situations. The most important being that they 100 % no money down. If you are living in rural areas, small communities these are the usda loans which you can have benefited of and not only this, they are provided for people staying in metropolitan areas. The correct definition of these USDA home loans is “A home loan that is backed by the government is the USDA Home Loan”. To pay towards the borrowers closings costs up to 6% of the sales price the seller is being allowed.
Even though the insurance can be higher when a property is considered in rural and wise versa for metro areas the rural tax rates are typically lower in rural areas. It has become their specialty as they live and work in the same communities where they do business and hence they understand the needs and demands very well. These home loans come with facilities Being Government insured loans that allow borrowers to obtain hundred percent “NO MONEY DOWN” financing. Here the upfront fee is added up into the loan itself no different in working principles of USDA home loans.