Is usda loan different than homepath?

two completely different types of loans.. HomePath financing is only offered on Fannie Mae repo homes, and there are no income restrictions. They require 5% down, but you pay no mortgage insurance. USDA is financing that is intended for low income borrowers, so there is a cap as to how much annual income your HOUSEHOLD brings in.. not necessarily those applying for the loan, but all adults living in the premises.. and USDA financing is only for properties located in the USDA defined area, which changes every year.. .. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Yes, it is. A USDA loan is 100% financing and can only be used for a property in a USDA approved area and there are income limitations. HomePath you have to purchase a property owned by Fannie Mae and put at least 5% down.

Yes there is. Based on being in Alexander County, an USDA Guaranteed Rural Home Loan would be the best home loan option so long as your household income does not exceed 110% of the median income for your county.