If you are looking for a home in the outter suburbs or in a rural area make sure your realtor knows about this great 100% financing program.
Here are some quick bullit points on the USDA program…
-Up to 100% of the Appraised Value – Total LTV of 102%
-No Down Payment Required
-No Cash Reserve Requirement.
-No cash contribution requirement.
-Unlimited seller concessions.
-Unrestricted gifts, not necessary to document source, no seasoning.
-First time home buyers allowed, but not limited to first time home buyers.
-Completed Short Sales are NOT regarded as a foreclosure or negative credit.
-We will need a clear CAIVRS and an adequate letter of explanation.
-Collections over 1 year may not need to be paid (cannot be a pattern and depends upon credit score).
-Non-traditional credit may substitute for lack of credit history.
-Repair Escrow financed in loan up to $10,000 or 10% of loan.
If you have more questions about getting qualified for this program just shoot me an email or give me a call.
Have a good day today! …and thanks for reading.
Brett
One of the most important things you will have to do when you apply for…
I wanted to let you know we have a 2% to 5% downpayment and closing…
If you want to acquire rental properties, but you are having issues proving your income…
Do you need cash out of your home, but you don’t want to refinance the…
In the mortgage world there are rules we have to follow. Such as, rules about…
Do you have investment property, and would like to pull cash out of your property?…
