Adams Community Bank Offering USDA Loans
ADAMS, Mass. — Adams Community Bank is now offering USDA loans, which assist low to moderate income rural homebuyers achieve their dream of homeownership.
Applicants must purchase a home within the eligible rural areas and have a household income that doesn’t exceed the established limits where the home is located. Eligible property types include existing homes, new construction, modular homes, eligible condominiums, new manufactured homes and Planned Unit Developments. (PUD’s)
“We are pleased to offer this program,” said Charles P. O’Brien, president and CEO. "The USDA loan program is a tremendous benefit to those interested in buying a home in rural areas.”
Additional Guaranteed Loan Program features include:
* 100 percent financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included.
* Fixed 30 year interest rates apply.
* No maximum purchase price.
* Eligible closing costs and lender fees may be included in the loan.
* Eligible repairs and improvements may be included in the loan.
* Gift/Grant Funds/ Mortgage Credit Certificates (MCC’s) Seller Concessions are allowed.
( Not limited to first time homebuyers.
For further details or to apply for a USDA loan, call 413-743-0001 or stop in to one of the bank's seven locations in Adams, Cheshire, Lanesborough, Lee, North Adams and Williamstown.
