Pennsylvania USDA Mortgage News

USDA Mortgages now allow In-Ground Swimming Pools with no restrictions

November 17, 2014 Pennsylvania USDA Mortgage News

The USDA Mortgage program has eliminated their restrictions for properties with in-ground swimming pools.   The USDA has announced that effective 12/01/2014, the rules regarding in-ground swimming pools will be changing.  USDA Mortgages in Pennsylvania allow for 100% financing, however, with the previous rule regarding in-ground swimming pools, this wasn’t always the case.   Previously […]

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Annual Fee for USDA Mortgages set to increase October 1, 2014

September 15, 2014 Pennsylvania USDA Mortgage News

Recently the USDA has annouced that there will be an increase to their Annual Fee.  This marks the second increase in the three year history of this fee.  Currently the annual fee stands at .40% of the mortgage balance.  Effective October 1st 2014, the annual fee will increase to .50% of the mortgage balance.   What […]

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Buying a Foreclosure with a USDA Mortgage

March 3, 2014 Buying a House

I had a buyer ask me the other day… Can I buy a foreclosure using a USDA Mortgage in Pennsylvania? Yes, you can. The USDA does allow home buyers to use the USDA Mortgage Program to purchase foreclosed properties but there are some issues that should be noted. The USDA will require that the property […]

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Pennsylvania USDA Mortgages : How the Annual Fee Increase Affects You

September 9, 2012 Buying a House

Another change has occurred to Pennsylvania USDA Mortgages… Last fall the USDA began including an annual fee with their mortgages.  This fee is included with the monthly payment and is intended to help keep the USDA Mortgage Program financially solvent. USDA has now announced that there will be an increase in this annual fee for […]

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USDA Property Eligibilty

November 1, 2011 Buying a House

USDA Mortgages, also known as Rural Development loans, are by definition meant for “rural” properties that will be a primary residence.  All borrowers on a USDA mortgage application must also occupy the property.   USDA Property Eligibilty First and foremost the property must be located in USDA eligible area.  The USDA Eligibilty map can be […]

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Buy a Home in Lancaster County with No Money Down with a USDA Mortgage

August 15, 2011 Pennsylvania USDA Mortgage News

Using a 100% USDA mortgage is a great way to finance the purchase of your next home in Lancaster County.  These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there.  If the home appraisal allows, the closing costs can also be wrapped into […]

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Buying a House with No Money Due at Closing is Possible with a USDA Mortgage

May 9, 2011 Buying a House

Buying a House with No Money Due at Closing is Possible with a 100% USDA mortgage. A few weeks ago I had a customer purchase a property using a 100% USDA Mortgage.   At the closing, they actually got cash back for the $2000 Hand Money they deposited to secure the sales contract and the $375 […]

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USDA Refinance in Pennsylvania

April 16, 2011 Pennsylvania USDA Mortgage News

Using a USDA Refinance in Pennsylvania is a great way to lower the monthly mortgage payment on a USDA loan.  Rates are still near historic lows and taking advantage of these rate levels will benefit many who are seeking to refinance a USDA mortgage.   USDA refinances can only be used to pay off an existing USDA […]

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Buy a Home in Blair County with No Down Payment

February 27, 2011 Pennsylvania USDA Mortgage News

Using a 100% USDA mortgage is a great way to finance the purchase of your next home in Blair County.  These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there.  If the home appraisal allows, the closing costs can also be wrapped […]

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Pennsylvania USDA Mortgages Offer 100% Financing

February 21, 2011 Buying a House

Using a 100% USDA mortgage is a great way to finance the purchase of your next home.  These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there.   Benefits of a USDA Rural Dev loan include:                 True 100% no money down financing. […]

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The home you are looking to purchase may be USDA eligible and you may not realize it

November 17, 2010 Buying a House

Some potential home buyers may not even consider applying for a USDA mortgage as they believe there is no way that their prospective home could possibly be considered rural.  If the home you are looking for is not located within a city, it is at least worth a look.  One look at the USDA eligibilty […]

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Buy a Home in Cambria County with No Down Payment

November 2, 2010 Pennsylvania USDA Mortgage News

Using a 100% USDA mortgage is a great way to finance the purchase of your next home in Cambria County.  These are great loans for those who qualify and the USDA loan remains as one of the true no down payment programs out there.  If the home appraisal allows, the closing costs can al so be […]

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