Envoy Mortgage in Connecticut servicing Litchfield, New Haven, and Fairfield counties is a direct lender and funder for USDA loans.

USDA home loans are offered in rural areas as determined by the United States Department of Agriculture (USDA). The USDA’s and Envoy's mission is to help lower income households obtain home loans at reasonable mortgage rates. USDA home loans offer many advantages to qualified borrowers.

USDA mortgage loans allow for purchase and no cash out refinances of primary residences. Some benefits of USDA are:

·         100% financing

·         No monthly mortgage insurance

·         No asset or automatic reserve requirements

·         Gifts allowed for closing costs

·         Seller can pay all closing costs enabling buyer to purchase home with zero funds out of pocket.

Eligible USDA property types include single family homes, condominiums and manufactured housing*. USDA does have some income and property eligibility requirements.

Even though a mortgage insurance premium is not required, USDA charges a 2% funding fee to guarantee the mortgage. This fee may be financed into the loan amount.

 

Call 860-945-9000 to speak with a certified USDA loan officer


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