Idaho Rural Development Loan

 

The Idaho Rural Development loan is a true 100% financing with low mortgage insurance. Having to pay low mortgage insurance allows borrowers to pay quite a bit less per month compared to if they had normal mortgage insurance on the loan.

 

Mortgage insurance also known as private mortgage insurance (PMI) is setup to offset losses in the case where a borrower is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property. It is not the same as home owners insurance which is liability coverage for property owners covering both loss/damage to property or dwelling and personal liability.

 

Idaho Rural Development Loans  are great for Idaho First Time Home Buyers. One of the great things about USDA Rural Development loans is you can get 100% financing for the purchase of your home. There are borrower income limits and properties in certain areas are not eligible. If you are curious as to whether or not a property you are interested in would qualify for a USDA Rural Development loan you can click on this USDA RD Link and type in the property address.

 

No money for a down payment ? No problem, try an Idaho Rural Development Loan. If you are in the market for a home and you need 100% financing the Idaho USDA Rural Development loan might be right for you.

 

One of the great things about USDA Rural Development loans is you can get 100% financing for the purchase of your home. There are borrower income limits and properties in certain areas are not eligible. If you are curious as to whether or not a property you are interested in would qualify for a USDA Rural Development loan you can click on this USDA Rural Development property link and type in the property address.

 

If you have any questions about purchasing a home with the Idaho Rural Development loan our contact information is below.