Whats the best option to pay no closing costs on a usda loan?

ALL MORTGAGE LOANS HAVE CLOSING COSTS... it is how you pay them... Most USDA loans, my clients ask the seller to pay most, it not all the closing costs. I hate this term, as it sounds like the seller is paying, and it is free to you. It isn't. You are paying, it is just a way of rolling the costs into the loan. The other way is that we simply increase your interest rate, and pay your closing costs that way. Again, you are still paying. Need a USDA loan in MN and WI? Visit www.MortgagesUnlimited.biz/USDA for more info

As closing costs are incurred regardless, the only way for you to not pay them is for the seller of the property or for your lender to give you a credit to cover them.(assuming you are speaking of purchasing a house) If the lender credits you for them, it will be at the price of a higher interest rate. If you wish to discuss more specific options or numbers, feel free to contact me by email at robhanson@emortgagegroup.com. I am a nationwide direct lender and am happy to communicate by email or phone at 301-651-7822. Good luck, Rob Hanson

Sellers concession or lender credit, I would say that sellers contribution is a better option than paying a higher rate to get a lender credit.

Seller contributions would be the best way to get the costs paid.. but aside form that, Joe is correct.. you pay the costs, it's just a matter of how.. you either pay by bringing additional cash to the table, select a higher interest rate and let the lender pay them for you, or you roll them in to the financing, but in any scenario, you pay.. 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. 480-287-5714 WilliamAcres.com

You can ask the seller to pay your closing costs. However, you need to realize that what ever amount they are paying towards your closings costs is potentially the amount you could of reduced the purchase price by. The other option is to pay them through your interest rate. Most lenders will quote you the lowest rate they can or par. The higher the rate the higher the credit you will receive that can be applied towards your closing costs and pre-paids. However, sometimes the lowest rate is already paying a credit. You can also do a combination of both, have the rate pay a bit and have the seller pay the rest. I would go over it with your loan officer and I'm sure they can put something together for you that makes sense. Of course, the seller is not a gimme and not all sellers automatically pay closing costs. You will need to speak with your real estate agent about that part. Best wishes, Sean