This is a YouTube video titled "💡 Home Buying 101 - USDA 💡" containing an informational talk about USDA loans, explaining eligibility criteria, property location requirements, income limits, and benefits such as lower mortgage insurance compared to FHA loans. The content is educational and focused on home buying options as of July 19, 2021.
A USDA loan. This is another unique loan option for homeowners looking for a zero down loan option that don't already qualify for a VA loan. Now, USDA loans, the requirements is that the property is outside of city limits. So in a rural area, there's actually a map that USDA puts together so you can get with, you know, a qualified loan officer to help out with, you know, what properties are eligible and the household income, the family income can't be greater than the national average for that area. $90,000 is generally where that limit lies. Now USDA also another big pro is the PMI or mortgage insurance is generally less than a comparable FHA loan for the same person, same property. So there's savings there along with the savings in the down payment. SA.
