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anyon please let me know how i can get usda 102% financed?

as opposed to just 100%. i just read this is possible? by vick73waites762374 from Salt Lake City, Utah. Sep 4th 2014 Reply


Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,524 contributions

Yes, you can POSSIBLY get a USDA loan at 102% - but ONLY if the appraisal is 102% of the purchase price or higher. I do a LOT of USDA loans in MN, WI, and SD... Learn more at http://mnhomesandloans.com/usda-loans-mn.html

Sep 5th 2014
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Linda Miller (Linda Miller)
#2 ranked lender in Utah - 562 contributions

Hello, the USDA loan is 100% loan and the guarantee fee (mortgage insurance) and reasonable and customary closing costs can be financed into the loan bringing the actual loan to value over 100%. I am doing a USDA loan right now for a couple in Saratoga Springs and it is 100% loan with the guarantee fee financed. The closing costs are being paid by the seller. If you have any questions, please give me a call at 801.550.1222. I am very familiar with USDA loans. Linda Miller. linda@lindamillergroup.com

Sep 4th 2014
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,933 contributions

USDA allows for 102% financing because they do 100% financing on the home and they allow you to finance the 2% USDA funding fee, for a total of 102%. I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com

Sep 5th 2014
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