All you need to know about the USDA rural housing loan

It has not only helped them to buy their dream homes but also improved their living conditions. If you are a first time buyer with a moderate income then the USDA mortgage loans gives you the opportunity to buy homes of your own choice. Unlike other financial companies, which demand a high down payment and high interest rate, USDA comes with policy of zero down payment and cost-effective loan.

Different types of USDA loans:

USDA offers you low interest rates, 100% financing and zero down payment. Let us take a look at the two different types of USDA loans.
Direct home loans: Direct home loan, as the name suggests, states that the funds are being directly approved by the USDA. No lenders are involved in these types of loans. In order to avail their direct home loan benefits, visit your near local USDA office.
Guaranteed home loans: being one of the most popular loans in America, Guaranteed home loans provide their funds through USDA approved lenders. These lenders are backed by the government and the government are in charge of compensating the losses. It involves less risk. The lenders are ready to offer USDA loans on their won will. In order to avail the guaranteed home loan benefits, visit any lender who works with USDA loans.
USDA mortgage loans are especially available for those who have a low to moderate income. They have their own eligibility guidelines and qualifications which help USDA to filter out families with those who have sufficient income to finance their own houses. Some of the eligibility guidelines are mentioned below.

Property eligibility: whenever you are buying any property and availing the USDA loan, make sure that the property is located within the USDA approved rural areas. Because USDA finance only houses located in rural areas. They do not finance for an existing mobile loan. Only properties that are used as the primary property and not for investment purposes are financed by USDA loans.
Income eligibility: the most important criteria for availing USDA loans are that you must have a steady source of income. This ensures that they can repay the loan within a certain period of time. Prior to filling loan application, you should have a history of 24 months steady employment. Total Debt and PITI for the borrower should be 41% and 29% of the total monthly income respectively. There is a maximum income limit for the area, the borrower must qualify all these criteria before applying for the loan.
Credit eligibility: you must have a minimum credit score of 640 to avail their Loans. All the bankruptcies should be settled within 3 years. Repetitive late payments are not acceptable.
Borrower’s eligibility: USDA finances only those families who are the permanent citizen of U.S. non-resident co-borrowers are not applicable to avail their offer. The borrower or the applicant must live in the home which the USDA has financed. All first time buyers and repeat buyers are allowed to avail the USDA loans.

Top10 Cities to Visit in the Netherlands

In the impression of the Netherlands, should be under the bright sun, gorgeous sea of tulips dancing with the wind, and the end of the sky as leisurely as the watchman of the wheat field turning of the ancient windmill. In fact, there are crisscrossed rivers, busy ports, wooden shoes, cheese as hard as bricks, and the quiet horn village far away from the world. There are the most prestigious art museums in Europe, sex museums experiencing Dutch alternative culture and flashing red light district, Van Gogh, Rembrandt, Vimel, Hals and Jan Sten, and window women on both sides of the canal. With its unique tolerance, the Netherlands displays art and vulgarity, sober and intoxication to the world.

The Netherlands is located in the northwest of Europe, near the Bohai Sea, with a low altitude and many places even below sea level, making it a “lowland country”. The constitutional capital of the Netherlands is Amsterdam, but the government and most of the embassies are located in The Hague. Due to its geographical location, the Netherlands has been a only place for business and trade since ancient times, and it has a reputation as a “European gateway”.

1. Amsterdam
Amsterdam is the largest city in the Netherlands, known as the “Northern Venice”. Bridges are crisscrossed, rivers and canals. Charming windmills, intoxicating tulips, legendary artists, mellow cheese, and unique buildings are the business cards of the city.

It’s easy to see why charming Amsterdam is one of Europe’s most popular tourist attractions as you stroll down the cobblestone alleys that flank the famed canals. Everywhere you look, there are beautiful gabled buildings and gorgeous ancient bridges. The Rijksmuseum, Van Gogh Museum, and Anne Frank House are just a few of the world-class institutions available.

One of the city’s biggest draws is simply meandering along its canals or enjoying a boat ride over their tranquil waters, which are easily navigable on foot. This liberal and cosmopolitan city features several atmospheric cafes and restaurants, thanks to its youthful spirit and inviting populace. It also offers a vibrant nightlife with clubs, pubs, and coffee shops.

2. Rotterdam
Rotterdam, the Netherlands’ second largest city, is home to one of the world’s largest and busiest ports, as well as several waterways and canals that crisscross the city. After suffering significant devastation during WWII, the city is now known for its modern and inventive design, however, there is still an underlying grit to the region.

Rotterdam is a vibrant and diverse city with amazing museums, cultural attractions, and, of course, fantastic food and drinking options befitting a huge city.

3. The Hague
It appears peculiar that The Hague is not the country’s capital, given that it is the seat of government and home to the royal family. This enormous metropolis, more fittingly, exudes a majestic aura. Although many houses were destroyed in World War II, later generations still followed the principle of repairing the old- -basically retaining the original appearance of the old city in The Hague. Hiking in The Hague, as if I went back to the exciting time of the 17th century.

The city’s green boulevards are lined with grand mansions and canal villas, while embassies and government buildings surround its beautiful parks. The city is quite cosmopolitan because of international organizations like the UN and the EU. It is much more relaxed than edgy Amsterdam, and it offers a variety of good dining options as well as interesting museums. It is home to Scheveningen, a popular coastal resort in the country, which is located on the North Sea.

4. Utrecht
Utrecht is one of the country’s oldest cities, with winding canals weaving their way through its charming medieval core, which is dominated by the strikingly stunning Domkerk cathedral. Although the expansive suburbs may not provide the best first impression upon entering the city, the city’s unattractive tangled labyrinth of highways is quickly forgotten once you get a sense of this lively area with its joyful attitude.

Utrecht boasts a number of affordable and cheerful bars and cafes, as well as a lot of terrific eating alternatives, thanks to its large student population.

5. Delft
Delft is about 10 km from The Hague, and Delft is a historic town, built in 1246. Many have sung its glories throughout the ages, including its most famous son, the painter Johannes Vermeer. The town still has ancient canal beauty, arched stone bridges, quiet countryside, and beautiful market squares.

The Delftware manufacturers are well-known for their distinctive blue and white tiles and ceramics, and travelers flock here to see them. Delft has a deep relationship with the Dutch royal family, where Delft blue pottery produces custom tableware for the royal family, and most of the royal family are buried in the new church in Delft.

Across the river is a small bridge on both sides of the street, every few hundred meters, there will be such a small bridge, however, the shape, surface as flat house very compact lean together, reflecting the shadow of trees and rows of houses, water occasionally across several water birds, usually a duck, but if good luck, or can see the swan graceful figure.

6. Maastricht
Maastricht, located on the banks of the Meuse River, is a favorite tourist destination for people of both Belgium and Germany, as well as the Dutch themselves. It’s a lively area with bustling streets. Maastricht has a bilingual and cosmopolitan population, as seen by the huge number of international students. As a result, it is a cultural melting pot that is unlike any other Dutch city. Its diversified and great food scene exemplifies this.

Wandering through its lively cobblestone streets is invigorating, with contemporary architecture nestled beside gorgeous old buildings, towering cathedrals, and stylish boutiques – the joyous Carnival being the highlight of the year.

7. Groningen
Groningen’s city center is a trendy, dynamic location filled with vitality and is totally pedestrianized, despite the fact that it is located in a rural and quiet section of the country.

Due to the city’s fast reconstruction after being nearly completely destroyed during WWII, the core contains an unusual mix of architectural styles. With such a huge student population, there is a thriving arts and culture scene, as well as affordable eateries and a variety of nice bars.

8. Leiden
Aside from Amsterdam, the inner city of Leiden has the most waterways and bridges in the country. During the summer, an incredible parade of boats and other floating vehicles sails through the city’s canals. The inner city is also lined with gentlemen’s houses, university buildings, and museums featuring unexpected exhibitions. Naturally, this student town has a wide range of appealing terraces, restaurants, and cafes.

The surrounding area of Leiden has a lot to offer as well. Sailing on the Kagerplassen lakes, sunbathing on Katwijk’s beach, or cycling through the flower-bulb region are all options. All of these Dutch highlights are only a 30-minute ride from Leiden’s city center. To summarize, there are numerous reasons to visit Leiden.

This is the birthplace of the legendary Rembrandt.

9. Haarlem
Haarlem, a lovely town with a distinctly Dutch aspect, is only fifteen minutes by rail from Amsterdam and is well worth a visit. Haarlem is undeniably picturesque, with its lovely ancient buildings, meandering canals, cobblestone streets, and many great artworks on show in its galleries and museums. Haarlem, in the heart of the flower-growing region, is a lovely place to come when the fields are in bloom.

10. Nijmegen
The fortified city of Nijmegen, Holland’s oldest city, will transport you to Roman times. The city is home to Holland’s oldest shopping street, the Lange Hezelstraat, and is full of magnificent historic buildings and centuries-old plazas.

Wishing for a Home? You can now have your own place that one calls Home

No, it is not that easy for the people who live in the rural areas because most of them can’t afford buying one. Do you know there is this facility called the USDA Home Loan to help people approve a home loan and then Congratulations you now own a house?

Well, it is not that easy as it looks like though, there are procedures and most importantly there are criteria known as USDA Loan Qualifications that one must qualify in order to get their loans approved.

What is USDA Home Loan?

It is a home loan program organized by the USDA loan program which stands for United States Development of Agriculture in order to help the people of rural areas who are mere property owners build their own homes. And, rural areas don’t just mean the suburban area but also includes town and semi-rural area which has the population of less than 20,000. It is a mortgage kind of loan where people having low to moderate incomes can apply for a home loan and the USDA Home Loan initiative helps in achieving it.

What are the Home Loan Qualifications?

There is a list of important criteria that one needs to fulfil so as to qualify himself for apply for a Home Loan. Here you go how-

As far as the Income limits to qualify for a House Loan is concerned, it totally depends on the location where you want a house and on the size of a home.
This one is the first and primary criteria which is to have a U.S. Citizenship.
There are certain standards which the U.S. Department of Housing and Urban Development sets for the houses that want a home loan approval and your house must meet those.
Your credit and income history play a major role to make you quality for a Home Loan. The annual earning of yours should not exceed 115% which is the limit for the median income of an area. Also, you shouldn’t be qualifying for any kind of conventional mortgages.
You cannot use more than 41% of the household income to pay off the debt so, even this plays a plus rule to follow.
If you have a low credit score or a bad credit history, then you might not qualify for the loan. A low credit score is still okay but not a bad credit history. A credit score of 680 and above surely qualifies you for a home loan.
There is this important formula that marks a major qualification which is the amount you pay every month against your debt should not be more than 29% of your monthly income.
Tips to make Home Loan Qualifications be accessible: -

One should always approach a verified institution or an approved lender for apply for the loan because they have proper knowledge on the subject which really helps.

The first thing a lender looks for is your income status because it shouldn’t be above the median income and shouldn’t be low enough for you to have a problem while repaying the loan.

Even the employment history plays a key role so as to check whether there was a static unemployment for years and if so, then why. The Home Loan approval focuses on stability in repaying the loan.