Insurance requirements for USDA Rural Development home loans in SC and GA. USDA loans offer 0% down payment and lower mortgage insurance than FHA. Many CSRA-area properties qualify. Total Quality Insurance compares 30+ carriers to meet your USDA lender requirements at the best rate.
Dwelling coverage equal to your loan amount or replacement cost. Lender listed as mortgagee. Effective on or before closing date.
1% of loan amount, financed into the loan. On a $200,000 loan = $2,000 added to your mortgage balance.
0.35% of remaining loan balance per year, paid monthly. On $200,000 = about $58/month. Significantly lower than FHA MIP.
Required for properties in FEMA-designated flood zones. Many rural SC/GA properties may be in flood-prone areas near rivers and creeks.
Many areas you wouldn't expect are USDA-eligible. Here are SC and GA areas that commonly qualify:
Check your specific property's eligibility at eligibility.sc.egov.usda.gov or call us at 706-434-8184.
Meet USDA insurance requirements with competitive quotes from 30+ carriers.