Comments on: USDA No Money Down Mortgage

By: The Triangle’s Hot! » Blog Archive » USDA Home Loans in North Carolina

Mon, 24 Aug 2009 19:48:55 +0000

[...] It is a 100% mortgage – meaning if you purchase a $100,000 home, then you can borrow $100,000… PLUS the cost of the mortgage guarantee fee that USDA charges. The Guarantee Fee is just like PMI, or MIP, or the VA Guarantee Fee… it’s default insurance. HOWEVER, it’s much cheaper than ANY OTHER insurance! Plus you don’t have to put any money down! [...]

By: Eleanor

Eleanor — Thu, 29 Jan 2009 14:27:46 +0000

The USDA program is actually one of the “safest” lowest default programs out there!

By: Tammi Kempf

Tammi Kempf — Wed, 28 Jan 2009 20:10:25 +0000

Not ALL people are going to default. What about us people who pay all our bills on time, have good credit scores but just don’t have YEARS to save for a down payment and want to get out of cramped apartment living & don’t like wasting money on rent every month? Being responsible we know what we can and can’t afford every month and the houses we are looking at are in our range. Its a good program for those who use it right. (and we are not looking at $228,000 homes either, just a modest $140,000 or below)

By: Lindsey Chester

Lindsey Chester — Wed, 07 Jan 2009 14:50:56 +0000

No money down- that’s what got us into this stinking mess in the first place. If people can’t afford to save for a down payment- maybe they shouldn’t be taking on a loan of $228,000 at all! These are the very folks who will later default! Why have we grown up as a society of “I want it now, therefore a SHOULD have it now” without working for it?” Disgusting