USDA Loan vs FHA Loan BRIAN BIRK | 4-MINUTE READ 5/18/2023 USDA loans and FHA loans are both types of government-backed mortgages, but they have different purposes and requirements. Here’s a comparison of the two: 1. USDA Loans The U.S. Department of Agriculture (USDA) offers this type of loan to promote homeownership in rural areas….
Conventional loan vs USDA Loan BRIAN BIRK | 4-MINUTE READ 4/11/2023 A conventional loan is a mortgage loan that is not guaranteed or insured by any government agency, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs (VA). Conventional loans can be either conforming or non-conforming, depending on whether they conform…
Refinancing a USDA Home Loan to Pay Off Debt BRIAN BIRK | 3-MINUTE READ 4/1/2023 Yes, it is possible to refinance your USDA loan and use the proceeds to pay off debt. This is known as a cash-out refinance. With a cash-out refinance, you can refinance your existing mortgage for more than what you currently…
What are the options when refinancing a USDA Mortgage BRIAN BIRK | 4-MINUTE READ 4/1/2023 Yes, it is possible to refinance a USDA home loan. There are two main types of USDA refinancing options along with options USDA Streamline Refinance: This program is designed to allow borrowers with an existing USDA loan to refinance without…
The Benefits of the USDA Home Loan BRIAN BIRK | 4-MINUTE READ 4/1/2023 A USDA loan, also known as a USDA Rural Development Guaranteed Housing Loan, is a mortgage loan offered by the United States Department of Agriculture to help people in rural areas purchase or improve their homes. Here are some of the benefits…
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