Does rural devolvement USDA require PMI or monthly mortgage insurance payments?
D. Tanner / Fort Meyers, FL
USDA home loans have only a one-time upfront premium of 3.5% that is rolled into your loan. There is no monthly mortgage insurance costs like FHA – that has both a upfront premium and a monthly cost. On average, this will save home buyers around $75 per month on their monthly mortgage payment. In addition, the USDA loan is 100% financing, no money down home loan.
USDA Mortgage Source is Florida leading resource for all 100% USDA home loans. Please visit our web site at www.UsdaMortgageSource.com to learn more about the benefits of 100% USDA home financing here in Florida.