USDA Rural Housing Loan: This loan program is truly underused! There are so many opportunities for borrowers to save money. Unfortunately, many lenders and loan officers have never heard of the program nor have any idea how to originate it. It is actually one of the easiest home loans to obtain. You simply need to meet the property eligibility requirements (which is the majority of most states), meet the maximum household income requirements (which is usually between $70K to 108K) and have a credit scores of a 620 or greater. Sure, you still have to meet the normal requirements to obtain a loan. This USDA Rural Housing Loan program will save you money every single time if you compare it with FHA loans. So, if you are thinking about going FHA with 3.5% down, then you need to 100% take a look at USDA as well. You can still put the same 3.5% down if you wish, but with USDA, you will not pay mortgage insurance and you have the option to borrow 100% of the loan!
Please visit my blog at www.USDARuralHousingLoan.com or see if you qualify by visiting my website at USDALoanExpert.com.
I have been posting quite a bit lately about the USDA Home Loan Program. Why? Because I think it is a fantastic program that is not used enough and not too many people are aware of it! There are MANY properties in Wake Forest NC that are eligible for a USDA Home Loan! Next time you are out checking out homes on a Sunday afternoon you might want to use this great little tool to see if the property is eligible! Then, pick up that phone and give me a call! I can set up an appointment for us to preview the home and help you navigate the whole home buying process!
The Single Family Eligibility tool is super easy to use! First, enter the address of the property that you are researching and click the "Submit" button.
Once your query has been submitted you will taken to the next screen which will tell you whether or not the property is eligible! For my example the home IS ELIGIBLE!
The home that was used in this example is currently listed for sale and is a gorgeous home! If you combine both the $8000 Tax Credit (only available for a limited time) AND a USDA Home Loan you end up with an incredible deal! Check out all that 805 Vonkramer Court, Wake Forest NC has to offer!
Leesa L. Finley, Broker, Realtor®
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