Everything you need to know about USDA home loans
There is a conception amongst most of the people that they have to prepare themselves for the down payment if they are opting for a home loan, which will be approved by the financial institutes or by the lenders. But right now, it is the time to come out from that conception as USDA is offering zero down payment loans so that you can move a step closer to your dream house. So, if you are living in Colorado or Kansas, you can look for USDA home loans in Colorado and USDA home loans in Kansas. Here, we are going to discuss about the USDA home loans and everything that comes with it.
Know about Colorado before you move there
With the population of 5,355,866, Colorado is quite an impactful state. Denver is the capital of Colorado as well as the most populous city of the state. Once you enter the state of Colorado, you will witness that it has strong influence of Latino culture. Economically, it is a quite stable state and is a very significant center and has many jobs to offer in the field of scientific research and technology. And if we can talk about education, Colorado is a pretty educated state with number of schools, colleges and universities. So, you can understand that it is a place ideal for relocating.
Kansas is also a place where you can settle
The best part about Kansas is that it has a very low rate of crime, which makes it a very peaceful state. Another intriguing part about Kansas is that the cost of living is also very low here. Educational ground of this state is also quite strong as the primary and secondary school levels are administered by the Kansas State Board of Education and the public colleges and universities are regulated by the Kansas boards of Regents. So, you can understand that Kansas has all the reasons, why you must relocate here.
Documents required to get the USDA Home Loans
There are some documents, which you have to show so that you can be considered eligible for the loan. Here, we are going to present you the list of documents, you need to submit.
• A state issued photo ID card along with a social security card for both the borrower as well as non-borrowing spouse.
• W2 forms of the last two years.
• Award letters for social security and pension/retirement income, in case you are retired.
• Also 1099 form for the last two years for pension/retirement and social security.
• You have to submit divorcee degree or child support agreement if you are paying or receiving child support.
• Recent and consecutive paystubs for the borrower and non-borrowing spouse.
• Most recent federal income tax returns for business as well as personal, with all schedules and pages.
• Image of the cashed earnest money from money order or bank.
• Quote for the homeowner’s insurance along with contact agent info.
• Termite inspection done by a licensed termite inspector.
• Bacteria and chemical water test, which meets the guidelines of FHA/HUD, if there is a private well.
• If the property has a septic system, you have to submit a septic certification done by a licensed septic certification company.
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So, here is everything that you need to know about the USDA Home Loans Colorado and the USDA Home Loans Kansas . So, don’t wait for anything else and opt for the USDA home loans with zero down payments.
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