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Rates are down today. Today’s rates with no lender fees are 3.5% APR on a 30 year, 2.75% APR on a 15 year and 2.75% APR on a 10 year. (click here for details)

June is National Dairy Month, and to honor this sacred month, I am going to talk about the United States Department of Agriculture rural development loans – or more commonly the USDA loan.
Check it out in today’s video:

USDA loans are available only in certain areas. These are obviously in more rural type locations. So if you want to live in the country or the outskirts of town this could be the perfect loan for you.
Here are some of the advantages of the USDA mortgage.
1. USDA loans are NOT completely credit score driven. So if you had some issues in the past you may still qualify if you have reestablished your payment history.
2. USDA loans offer great rates and low mortgage insurance.
3. You can have seller concessions to cover all your closing costs. And guess what it doesn’t stop there. You can even add repairs and appliances to your loan amount as long as the appraisal justifies it.
4. And the biggie – NO down payment. Yep. You heard me. There are still no down payment loans available. This is one of them.
So let’s recap – flexible underwriting, low rates, low Mortgage insurance, seller concessions to cover all closing costs if needed, finance repairs and appliances, and all with NO money down. What else do you need? A stated loan? Keep dreaming my friend!
Feel free to check out the USDA’s Web site HERE or you can also fill out the GET HELP section to get more info from yours truly.
And Im sure you know it’s Friday, which means that it’s Follow Friday! Check out these three tweeting twitter fanatics and show them some twitter love.
The Stout Team – New Memphis Real Estate Listings and Foreclosures.
Melissa Thompson – New Wife, Mom, Real Estate professional
Linda Daniels – The Daniels Group is a full service team that specializes in the La Jolla real estate market.
Now go drink some milk or eat some cheese or frolic in a field or do something to celebrate Dairy Month. I have Cheese fest this weekend here in Wisconsin. Aren’t you jealous?
If you thought this was good information or worth discussing, help me bring transparency to mortgage lending by sharing today’s episode on Facebook or Twitter.
Let’s change the way people shop for a mortgage…forever!
– Mike
PS. To ask a question, get advice, or find out if you’re getting the best deal possible on your loan, just post a comment below.

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