What makes a USDA Home Mortgage loan different than other loan products that Bank of England Tennessee offers?

A USDA home loan is different from a traditional mortgage offered in the United States in several ways.USDA loans require no down payment, you may finance up to 100% of the property value.You must meet the income restrictions for the County you are interested in. Each county has a maximum Income Requirement. The USDA Home Read More …

Can a home mortgage loan include renovation costs?

Yes, however most rehab loans to improve properties are done using an FHA loan known as the FHA 203k loan. These loans require a 3.5 percent down payment on the total of the purchase and the amount of the home improvements needed. Our mortgage officers are very skilled at these mortgage loans. Call us for Read More …