The USDA Rural Development loan program in Arizona has some advantages and disadvantages compared to going the route of an FHA mortgage or Conventional mortgage program. 

• No Down Payment - Truly a 100% home loan
• No Expensive Monthly Mortgage Insurance – Keeps your monthly payment low
• No Cash Reserve Requirement
• No Minimum Credit History Requirement
• USDA 100% Financing in Arizona is a top choice among First Time Home Buyers
• No Limitation to the purchase price
• May finance up to 102% of the appraised value
• Down Payment Assistance from non profits is acceptable
• Repairs may be financed up to 100% of the “as is” value
• No limits to the concessions the seller can make – seller paid closing costs
• Rates are typically lower than FHA Home Loans or Conventional Mortgages

Some of the disadvantages of going with a USDA loan in Arizona are as followed:

• No Existing manufactured homes
• Home location is restricted to specific Rural areas
• Homes with pools may not finance the value of the pool
• Higher upfront mortgage insurance
• Income restrictions specific to county and occupancy size

For More Details on USDA loans in Arizona click here.

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