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USDA Guaranteed Rural Housing
Make the dream of homeownership come true
with the Affordable Housing Program for rural
If your are purchasing a home in a USDA Rural Development (formerly The Farmers Home Administration) defined rural area, you may be eligible for financing with the Guaranteed Rural Housing program which features 102% financing. How it works: • Finance full purchase price plus closing costs up to 102% appraised value. • 6% seller concessions permitted for closing cost assistance. • 100% gifting permitted for all closing costs. • No post-closing reserve requirements. • 29/41% ratios. • NOT limited to first-time home buyers. • No monthly mortgage insurance — one time guarantee fee at closing which keeps monthly payments lower than FHA. • Finance required property improvements into total loan up to 102% of “as improved” value. Repairs may be completed after loan closing. Chase value-added: • Competitive pricing - NO negative adjustments for the USDA Guaranteed Rural Housing product or small loan balances. |
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