Thursday, June 25, 2009

100% Financing with NO Monthly Mortgage Insurance Payment!

You've heard if USDA beef? Well, you can get a USDA Mortgage! The US Dept. of Agriculture has a program underwritten by Ginnie Mae that gives down payment assistance to qualified buyers in certain geographical areas. It allows 100% Financing and no monthly Mortgage Insurance payment is required. This program is an alternative to FHA loans. You can still take advantage of the recent $8000 Federal rebate for first-time homebuyers with the USDA Mortgage, too.