Missouri Mortgage Source Deals – Jumbo Loans(10%), MHDC Loans(4.5%), USDA Loans(1%) (Jan. 24)

  1. **Jumbo Loans from missourimortgagesource. Price: $417,000.00. Discount: 10%. Categories: Finance, Loans, Mortgage. Deal Rating: 4.5 Stars out of 5. Store Rating: 5 Stars out of 5. Deal Recommendation: Recommended. Available Until: Ongoing Deal. Thoughts: Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac Conventional loan limits. In Boone County, MO this limit is $417,000, so any loan amount above that is considered a Jumbo. Rates on jumbo loans are typically higher than conforming loans. Jumbo Home Loans are typically used to buy more expensive homes and high-end custom construction homes. USA Mortgage offers a wide variety of Jumbo loan options including fixed and adjustable rate, and programs with as little as 10% down, where most lenders require 20%.
  2. **MHDC Loans from missourimortgagesource. Price: $100,000.00. Discount: 4.5%. Categories: Finance, Loans, Mortgage. Deal Rating: 4.5 Stars out of 5. Store Rating: 5 Stars out of 5. Deal Recommendation: Recommended. Available Until: Ongoing Deal. Thoughts: The State of Missouri First Place Loan program offers MHDC Loans through a down payment assistance grant. The loans are available through USA Mortgage for properties located anywhere in Missouri. MHDC Home Loans are provided both with Conventional and FHA loans, offering up to 4.5% down-payment assistance, and these loans will leave very little left for the borrowers to bring to the table. MHDC Home Loans Rates are pre-determined by the Missouri Housing Development Commission and available on their website www.mhdc.com on daily basis.website.
  3. **USDA Loans from missourimortgagesource. Price: $100,000.00. Discount: 1%. Categories: Finance, Loans, Mortgage. Deal Rating: 4.5 Stars out of 5. Store Rating: 5 Stars out of 5. Deal Recommendation: Recommended. Available Until: Ongoing Deal. Thoughts: USDA Rural Development has partnered with local lenders to help them extend 100% financing opportunities to rural individuals and families. The property itself must meet USDA location and condition requirements. There are many positive aspects to applying for USDA loans if you are not eligible for a Conventional Loan, but there are income limitations and restrictions that vary by different counties and the number of family members that will live in the household. USDA Home loans can be used for the purchase of a primary residence. USDA charges an annual service fee of .35% of the total loan amount, which is paid monthly. USDA also charges an upfront funding fee of 1% of the loan amount. This is a one-time fee and can be rolled into the loan.

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