This little know USDA government loan program is a jewel!  No down, easy to qualify low PMI. With Low USDA Home Loan ratios of  29 / 41%.  Rates for the Arizona USDA Home Loan are from 3.25%.

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The Guaranteed Rural Housing Loan Program is offered through the Rural Housing Service (RHS), an agency of the U.S. Department of Agriculture. The USDA Loan Program offers assistance to low and moderate income rural residents whose income is equal to or less than 115% of the area median income. This program allows 100% LTV, 30-year fixed-rate first mortgages in designated Rural Housing Service areas.

Purchase and Refinance only.  Cash-Out is not allowed.

Determined by calculating the qualifying ratios and checking county maximum income limits. Maximum loan amount cannot exceed 100% of the appraised value. Maximum loan amount including financed guaranteed fee cannot exceed 102% of the appraised value. On purchase transactions, if the sales price is lower than the appraised value, closing costs may be financed into the loan amount up to a maximum 100% of the appraised value with the guarantee fee not exceeding 102% of the appraised value. USDA is available for borrowers who do not qualify and meet program requirements for Conventional, FHA, or VA financing.

Arizona Mortgage Broker,

In order for a property to be eligible USDA Home Loan for a Rural Development guaranteed loan, the property must be located in a rural designated area designated by the RHS office. Use the following website to determine property eligibility from the home page, click “Single Family Housing” under “Property Eligibility”: http://eligibility.sc.egov.usda.gov

The property must be a non-farm tract and the property must be typical for residential properties in the area and may not be income producing or used primarily for agricultural, farming, farm operation or commercial enterprise.

Arizona Mortgage Broker, Arizona Home Loans

The fee amount is 2.00% of the total principal obligation of the new USDA Home Loan. The fee may be financed into the new loan amount. (Transactions may exceed 100% only by the amount of the Guarantee Fee being financed in the loan amount)

Owner Occupied Only. 1 Unit, PUD’s, Condos, Manufactured Homes permanently affixed to the foundation, built on or after June 15, 1976, and meets all RD requirements, Modular Homes.

The debt ratios are 29 / 41%.  Debt ratios may be increased to 32/44% with one of the compensating factors (Good Luck):

For a complete over of the Arizona USDA Home Loan Program: 

Overview of the USDA Home Loan Program