does usda do investment properties and require mortgage insurance
i am looking into renting a home upstate let me know by 01elenag7842279 from Bronx, New York. Jun 3rd 2014
John Moran (SimplifyMortgage)
#1 ranked lender in Oregon - 663 contributions
USDA is only for primary residences. The property needs to be in a specifically designated area and the purchaser has to meet maximum household income requirements. It does have monthly mortgage insurance, but the amount is lower compared to other options.
Dave Metsker (DaveMetsker)
#36 ranked lender in Oregon - 2,318 contributions
As John stated, USDA is for primary home only.
Pete Bass (PeteBass)
#30 ranked lender in Connecticut - 476 contributions
USDA is for primary residences only- it does have mortgage insurance but is lower than other options.
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