Supplying Cambria Illinois USDA Home Loans Since 1997
Cambria, IL USDA Rural Mortgage
As an approved USDA Rural Housing lender, Smart Mortgage Centers is excited to bring you the option of a USDA mortgage in Cambria . For those who qualify, 100% financing is available bringing the dream of home ownership within reach. With low interest rates and flexible guidelines a USDA home loan could help you achieve your financial goals.
Qualifications for a Cambria USDA Mortgage
Eligibility is based both on the property and the borrower. The property must be located in a rural development eligible area, and be occupied as your primary residence. Your Smart Mortgage Centers loan consultant can help you determine whether there are properties near you that qualify. Even if you do not consider your area “rural” you may be surprised to learn there are eligible properties nearby. To qualify for a USDA Rural Housing loan a borrower must meet income (people who earn above a certain threshold are ineligible), credit, and employment requirements and be a US citizen, US non-citizen national, or a qualified alien. Contact us today and we’ll help you determine whether or not you may be eligible for Cambria USDA financing. If a USDA mortgage is not a good fit for you don’t worry, we have a wide variety of home loan programs to help you meet your goals.
Call the USDA Mortgage Hotline
Toll Free 888-882-1058
3 Reasons to Consider a USDA Mortgage
- Rural homes in Cambria, Illinois are often financed through USDA Rural Housing Loan programs. Although it is certainly not new, the USDA Rural Housing Loan program may be one of the most overlooked opportunities available to prospective home buyers. Established in 1949 by the US Department of Agriculture, its goal is to give residents of rural areas the opportunity to own a home and promote development in underdeveloped areas.
- There are certain eligibility requirements for both the borrower and the property to be purchased. Borrowers must meet certain income, credit and employment requirements while the home to be purchased must lie within the USDA’s Property Eligibility Map. Since the program began, over 2.7 million rural borrowers have become proud homeowners. Here are 3 compelling reasons why this is such an outstanding prospect for anyone thinking of buying a home:
- Rural does not mean remote Please do not assume that the eligible properties are all located miles and miles from civilization. A quick check with the USDA’s website will allow you to track down homes that meet the USDA guidelines. Guess what? Many of them are in close proximity to some of the nation’s fastest growing metro areas – including places surrounding major cities.
Find out if a Cambria home is USDA Eligible
Toll Free 888-882-1058
USDA Affordability
Unparalleled affordability Cambria USDA financing is one of the only mortgages available other than those for members of the US military that offers zero money down (note: there may be some programs available in certain locations where 100% financing may exist). It is an excellent option for those with lower incomes or less than perfect credit. Mortgage insurance is not required and loans can be used to purchase or refinance. Monthly payments are kept affordable, thanks to the fact that the loans are 30-year fixed rate mortgages. More borrowers are eligible than ever before As part of the American Recovery and Reinvestment Act that came about in 2009, the guidelines for USDA home loans have become more streamlined and opened the door for higher eligibility rates. Borrowers must still meet certain income requirements and provide a credit report; however, the guidelines are not as strict as they were previously. To learn more about Cambria USDA Rural Housing loans and their eligibility requirements, discuss your home purchase plans with a licensed mortgage consultant from Smart Mortgage Centers.
Cambria is a name for Wales, being the Latinised form of the Welsh name for the country, Cymru.[1] The term was not in use during the Roman period (when Wales had not come into existence as a distinct entity). It emerged later, in the medieval period, after the Anglo-Saxon settlement of much of Britain led to a territorial distinction between the new Anglo-Saxon kingdoms (which would become England) and the remaining Celtic British kingdoms (which would become Wales). Latin being the primary language of scholarship in Western Christendom, writers needed a term to refer to the Celtic British territory and coined Cambria based on the Welsh name for it.
The Welsh word Cymru (Wales), along with Cymry (Welsh people), was falsely supposed by 17th-century celticists to be connected to the Biblical Gomer, or to the Cimbri or the Cimmerians of Antiquity. In reality it is descended from the Brythonic word combrogi, meaning “fellow-countrymen”.[2] The term thus conveys something like “[land of] fellow-countrymen”. The use of Cymry as a self-designation seems to have arisen in the post-Roman Era, to refer collectively to the Brythonic peoples of Britain, inhabiting what are now Wales, Cornwall, Northern England, and Southern Scotland.[3] It came into use as a self-description probably before the 7th century[4]
and is attested in a praise poem to Cadwallon ap Cadfan (Moliant Cadwallon, by Afan Ferddig) c. 633.[5] In Welsh literature, the word Cymry was used throughout the Middle Ages to describe the Welsh, though the older, more generic term Brythoniaid continued to be used to describe any of the Britonnic peoples (including the Welsh) and was the more common literary term until c. 1100. Thereafter Cymry prevailed as a reference to the Welsh. Until c. 1560 the word was spelt Kymry or Cymry, regardless of whether it referred to the people or the country.[6] The Latinised form Cambria was coined in the Middle Ages, and was used regularly by Geoffrey of Monmouth.