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Is The Usda Loan A Good Loan To Get For A Young Couple?

By pay online Posted in: payment

me and my husband are 19 and 20 and his credit score is 700. he makes $45,000 a year and we were told that we could afford a house that is $100,000 which is a great price where we live for a nice house. they told us we are elligable for the FHA loan or the USDA loan. we are looking into the USDA loan because we would get a bigger and nicer house for our money because of location, we would get a yard which we are looking for and we would not have to put a down payment on the house. I know that raises the mortgage a little but we have looked into that and know how much it would raise it and are fine with that.
Im just wondering if theres anything bad or that we should know when it comes to the USDA loan. is it a good loan for a young couple like us? thanks!

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  1. AndyR Says

    If you can get a USDA loan i would definately do it, no down and low closing costs and don’t have to pay any monthly PMI.
    If you have any money saved up might as well throw it down to lower the payments a bit, or save it incase something breaks when after you move in.
    But i don’t see much of a downfall getting a USDA loan compared to the FHA.
    Good luck

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