Nucasa Mortgage is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA, the Federal or State Government.
USDA uses two fees: an upfront guarantee fee that is paid by the applicant once when you close on the loan, and an annual fee, which gets lumped into your monthly mortgage payment. The upfront fee is 1 percent of the total financed amount, while the annual fee is 0.35 percent of the loan's current balance. Income and property eligibility requirements apply; visit eligibility.sc.egov.usda.gov complete details.
Borrower pays only the interest on the mortgage through monthly payments for the fixed term of the loan. Borrowers are required to pay off the principal of the loan. Borrowers are also required to make a one-time balloon payment due 6 months from the date of closing.
Not all applicants will qualify. Advertised rates, fees, and program guidelines are subject to change without notice.
Private mortgage insurance is required if you make less than a 20% down payment. When you pay property taxes (along with your mortgage payment), your lender deposits the property tax payment into an escrow account. When your taxes are due, your lender uses the funds in this account to pay the taxes on your behalf.)
This is an advertisement and is not a commitment to lend. Contact lender to discuss the loan programs, payment and term options available specifically for you and your needs.