Why rent when you can own? The USDA 100% mortgage allows you to buy a home with No Money Down!!!
Finally! After several years of decreasing values, Real Estate prices have shown steady increases throughout the entire country. NOW is the time to be buying a home of your own and you can do it with No Money Down. If you qualify, you can buy with a 100% home loan available from the USDA. ( United States Dept. of Agriculture). The closing costs can be paid for by the seller, the lender, or another third party. This means that you may be able to buy a new house with absolutely no money out of your pocket! There is no cheap real estate. But there is a way to buy without putting 5-30% down. In fact you may be able to build in the closing costs for your Real Estate Property.
In order to qualify, you need a minimum credit score of 640, with no outstanding judgments, and your total household income cannot exceed published guidelines for the County in which you want to buy. The property you want to purchase must be located in a "USDA Eligible" area. A Real Program for the Real Estate you desire.
check property eligibility here
To find out if your income is within the guidelines, click on the following link and find your State and County, and complete the short form.
check income eligibility here
Finally! After several years of decreasing values, Real Estate prices have shown steady increases throughout the entire country. NOW is the time to be buying a home of your own and you can do it with No Money Down. If you qualify, you can buy with a 100% home loan available from the USDA. ( United States Dept. of Agriculture). The closing costs can be paid for by the seller, the lender, or another third party. This means that you may be able to buy a new house with absolutely no money out of your pocket! There is no cheap real estate. But there is a way to buy without putting 5-30% down. In fact you may be able to build in the closing costs for your Real Estate Property.
In order to qualify, you need a minimum credit score of 640, with no outstanding judgments, and your total household income cannot exceed published guidelines for the County in which you want to buy. The property you want to purchase must be located in a "USDA Eligible" area. A Real Program for the Real Estate you desire.
check property eligibility here
To find out if your income is within the guidelines, click on the following link and find your State and County, and complete the short form.
check income eligibility here
3 Reasons to apply for a USDA Mortgage
Rural homes are often financed through USDA Rural Housing Loan programs. Although it is certainly not new, the USDA Rural Housing Loan program may be one of the most overlooked opportunities available to prospective home buyers. Established in 1949 by the US Department of Agriculture, its goal is to give residents of rural areas the opportunity to own a home and promote development in underdeveloped areas.
There are certain eligibility requirements for both the borrower and the property to be purchased. Borrowers must meet certain income, credit and employment requirements while the home to be purchased must lie within the USDA's Property Eligibility Map. The USDA works with approved lenders in all 50 states. Since the program began, over 2.7 million rural borrowers have become proud homeowners. Here are 3 compelling reasons why this is such an outstanding prospect for anyone thinking of buying a home:
Rural homes are often financed through USDA Rural Housing Loan programs. Although it is certainly not new, the USDA Rural Housing Loan program may be one of the most overlooked opportunities available to prospective home buyers. Established in 1949 by the US Department of Agriculture, its goal is to give residents of rural areas the opportunity to own a home and promote development in underdeveloped areas.
There are certain eligibility requirements for both the borrower and the property to be purchased. Borrowers must meet certain income, credit and employment requirements while the home to be purchased must lie within the USDA's Property Eligibility Map. The USDA works with approved lenders in all 50 states. Since the program began, over 2.7 million rural borrowers have become proud homeowners. Here are 3 compelling reasons why this is such an outstanding prospect for anyone thinking of buying a home:
- Rural does not mean remote Please do not assume that the eligible properties are all located miles and miles from civilization. A quick check with the USDA's website will allow you to track down homes that meet the USDA guidelines. Guess what? Many of them are in close proximity to some of the nation's fastest growing metro areas - including places like Austin, TX; Bend, OR; or Santa Fe, NM.
- Unparalleled affordability USDA financing is one of the only mortgages available other than those for members of the US military that offers zero money down (note: there may be some programs available in certain locations where 100% financing may exist). It is an excellent option for those with lower incomes or less than perfect credit. Mortgage insurance is not required and loans can be used to purchase or refinance. Monthly payments are kept affordable, thanks to the fact that the loans are 30-year fixed rate mortgages.
- More borrowers are eligible than ever before As part of the American Recovery and Reinvestment Act that came about in 2009, the guidelines for USDA home loans have become more streamlined and opened the door for higher eligibility rates. Borrowers must still meet certain income requirements and provide a credit report; however, the guidelines are not as strict as they were previously. To learn more about USDA Rural Housing loans and their eligibility requirements, discuss your home purchase plans with a mortgage consultant. Contact me for best specialist in your state. Call Ian OLito at 732.334.8399