Part 2: The Advantages of USDA Loans

Continuing our exploration of government-backed mortgages, David Lenoir of Coldwell Banker Realty and Rick Waldron of Guaranteed Rate Affinity shed light on USDA loans, a less commonly known but highly advantageous option for those looking to buy in rural or suburban areas around Boston.

USDA loans offer 100% financing, meaning no down payment is required. This makes them an excellent choice for prospective homeowners who are financially ready to own but may not have the savings for a traditional down payment. However, these loans do have income limits and property location requirements, emphasizing the importance of understanding all criteria before proceeding.

Like FHA and VA loans, USDA loans are designed to make homeownership more accessible. They cater specifically to those looking to live in less densely populated areas and come with competitive interest rates and manageable credit requirements.

Whether you're a first-time homebuyer or someone looking to move away from the city, USDA loans could provide a viable path to homeownership with significant financial benefits.

For more information, DM me or call 781-734-7098.

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