Veritas Mortgage Funding, a Raleigh, N.C.-based mortgage firm, says it now offers mortgages through the U.S. Department of Agriculture's (USDA) Rural Guarantee program – allowing individuals outside metropolitan areas to obtain a government-backed, no-money-down loan.
According to the company, the program offers low interest rates and no required mortgage insurance premiums, thus decreasing the buyer's housing expense or allowing him or her to afford a larger home.
‘Our objective is to offer affordable no- or low-money-down homebuying opportunity to the largest number of North Carolinians under currently turbulent lending conditions,’ says Edyta Rhodes, president of Veritas Mortgage. ‘Our participation in the USDA Rural Guarantee represents a major step forward toward achieving that goal.’
