Although many 100% financing options have recently been taken away from the home buyer's mortgage options, one of the best zero down mortgages ever is still around and going strong; The USDA mortgage program.
Not only does this 100% mortgage requireno down payment, but the seller can pay all of the buyer's closing costs, which will allow a home buyer to get into a home with very little money out of pocket.
This 100% financing program is a 30-year fixed loanthat has no monthly mortgage insurance. You do not have to put 20% down to avoid that expensive mortgage insurance with this loan. And interest rates for the USDA mortgage program are comparable to FHA or conventional mortgages.
There are a few limitations; The location of the home you are buying will have to be in an eligible area. If you are buying a home in Cape May County, NJ, many of the locations within the county are approved for 100% financing. (see map - lighter area).
A USDA mortgage is also income restricted, however it does have fairly high income limitations, and the majority of home buyers will find that they qualify.
If a USDA loan does not work for your particular situation, there are other options including first time home buyer grants and assistance programs (both state and county programs), FHA/VA loans, FHA 203K Renovation / Purchase loans and other options. For more information, to be pre-approved, or to have any questions answered, contact Steve Kappre (below).
See also some other counties offering 100% Financing:
Did you think 100% financing and zero-down loans were a thing of the past? Think again. One of the best mortgage programs available today is the USDA mortgage program. This mortgage option is still somewhat unknown despite it's popularity in this current market.
Not only is there no required down payment, but the seller can pay all of the buyer's closing costs, which will allow a home buyer to get into a home with very little money out of pocket.
Sleep well with the safety of a 30-year fixed loanthat has no monthly mortgage insurance. Interest rates for the USDA mortgage program are comparable to FHA or conventional mortgages. There are a few limitations; The location of the home you are buying will have to be in an eligible area. If you are buying a home in Cumberland County, NJ, many of the locations within the county are approved for 100% financing. (see map).
A USDA mortgage is income restricted, however it does have fairly high income limitations, and the majority of home buyers will find that they qualify.
If a USDA loan does not work for your particular situation, there are other options including first time home buyer grants and assistance programs (both state and county programs), FHA/VA loans, FHA 203K Renovation / Purchase loans and other options. For more information, to be pre-approved, or to have any questions answered, contact Steve Kappre (below).
Are you a home buyer looking at homes in New Jersey? Have you found the right property, at the right price, and the right location, but it needs A LOT of work? Enter the 203k renovation loan. This loan can be used for both the purchase or refinance of a home. Check out the information below from my friend Ken, and if you have any questions, don't hesitate to call. I'd be happy to help and explain.
Quick note: For repair of luxury items or for renovations above $35,000 we can do these too, just call.
So you or your client have found a home in a great area in the client's price range. Only one problem: it's in bad shape. The HVAC system is 50 years old, the roof is 40 years old and the windows may as well not even be closed. Plus the kitchen has vinyl floors in 3 different patterns and the counters are all laminate with burns and holes and scars.
Not to fear! Meet the FHA 203K Streamlined renovation loan.
Eligible Improvements Virtually any kind of improvement is eligible provided it becomes a permanent part of the real property and adds value.
Additions to the structure
Kitchen or bath remodels
Finished basement or attic
Patios, decks or terraces
Roofing and landscaping
Safety, energy efficiency and electrical upgrades
Handicapped accessibility improvements
Luxuryitems are not eligible
Swimming pools, hot tubs, tennis courts, gazebos, barbecue pits, saunas or alterations to support commercial use
The maximum loan amount must be within the FHA loan amount maximum for the MSA where the home is located and must include the purchase price and the renovation amount. The maximum renovation amount is $35,000 and the minimum is $5,000. Under $5,000 we can do with an escrow of repair funds. A minimum of 10% contingency reserve is required and must also fit into the FHA loan maximums for the area where the property is located. (Any balance remaining on the contingency will be applied to the principal balance and may not be used for additional repairs.)
Yes, it takes a little longer to close an FHA203k Streamline loan than it does to close a standard FHA loan. If you are an agent and you are concerned about that extra couple of weeks just think of it this way: You may make a sale you would not have otherwise made. You may help a buyer get into a home in the area where they wanted to live instead of where they "had" to live. You can be a real hero for someone.
If you are in Georgia I can help you with the necessary paperwork and give you a short class in how to use the FHA 203K Streamline Rehab loan to purchase, sell or represent homes in today's economy. Never hesitate to call me at any time and I'll be happy to answer your questions.
Ken Cook - Georgia - FHA, USDA, VA and Conventional Home Loans (678) 439-8683
Come On Out for the Saturday Night Concert Series at the Gloucester County, NJ Library
The Gloucester County Library is putting the word out for their 8th season of Saturday Night Concerts. The concerts are free and no reservations are required. All concerts are held at the Main Branch of the Gloucester County Library in Mullica Hill (389 Wolfert Station Road (Route 45 located close to Route 322 (See map/directions below)).
The concerts being at 7:00 PM (doors open at 6:30). Check out the concert series list below!
December 5 - The Seacoast Brass Quintet performing classical and seasonal music
(No Concert in January due to the holiday weekend)
February 6 - Jazz vocalist Katie Eagleson
March 6 - The Homegrown String Band - American folk and traditional music
April 3 - The Copeland String Quartet - classical music
May 1 - The Midiri Brothers Jazz Sextet
Steve Kappre is a Mortgage Advisor with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more information check out:
This is a great service I never knew was available. I checked the Gloucester County, NJ area and there are some local businesses that are on board with this great free service. Share this with anyone you can! ~ Steve
If you know any woman currently undergoing Chemo, please pass the word to her that there is a cleaning service that provides FREE housecleaning - 1 time per month for 4 months while she is in treatment.
All she has to do is sign up and have her doctor fax a note confirming the treatment. Cleaning for a Reason will have a participating maid service in her zip code area arrange for the service. http://www.cleaningforareason.org
Please pass this information on to bless a woman going through Breast Cancer treatment. This organization serves the entire USA and currently has 547 partners to help these women. It's our job to pass the word and let them know that there are people out there that care. Be a blessing to someone and pass this information along.
A full service brokerage covering South Charlotte real estate, Ardrey, Ballantyne, Fort Mill, Huntersville, Indian Land, Lake Norman, Lake Wylie, Marvin, Matthews, Mint Hill , Pineville, Stallings, Uptown Charlotte, Waxhaw, Weddington, Wesley Chapel homes for sale.
I am not sure how long these guys have been here, but one thing is for sure; They seem to be doing VERY well.
When we first moved to Mickelton, NJ (East Greenwich Twp), we soon took notice of the large lobster-like creatures swimming below the bridge. I'd have to say we were all rather amazed at their size.
From my fishing days when I was younger, I remember crayfish/crawfish being much smaller. These ones must have been feasting on the "Best in the world Jersey Tomatoes"!
This isn't the first time we have seen these guys, but the pictures here are from outside the front of our house, in a development, in the street. This guy either crawled up from the sewer or he walked a really long way from the nearest water!
I'll be putting him back in a safe spot. Maybe he will return in the spring.
Steve Kappre is a Mortgage Advisor with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more information check out:
Are you looking to purchase a home in South Jersey? One of the best mortgage programs available today is the USDA mortgage program. This mortgage loan is still somewhat unknown despite its popularity in this current market. A USDA mortgage allows a home buyer to purchase a home with zero money down. Not only is there no required down payment, but the seller can pay all of the buyers closing costs, which will allow a home buyer to get into a home with very little out of pocket.
A USDA mortgage is a 30-year fixed loan that has no monthly mortgage insurance. Interest rates for the USDA mortgage program are comparable to FHA or conventional mortgages. There are a few limitations; The location of the home you are buying will have to be in an eligible area. If you are buying a home in Salem County, NJ it is already in a designated USDA area.
A USDA mortgage is income restricted, however it does have fairly high income limitations, and the majority of home buyers will find that they qualify for this option.
If a USDA loan will not work for your particular situation, there are other options including first time home buyer grants and assistance programs (both state and county programs), FHA loans, and other options. For more information, to be pre-approved, or to have any questions answered, contact Steve Kappre (below).
Steve Kappre is a Mortgage Planner with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more info check out:
100% Mortgage Financing in Gloucester County, NJ | USDA
Whether you are a first time home buyer in Gloucester County, NJ or a move-up home buyer, one of the best mortgage programs going right now is the USDA loan option that allows 100% financing. Unlike many of the risky loans that were available several years ago, this 100% financing loan is a 30-year fixed loan that has no monthly mortgage insurance cost.
Interest rates for this USDA mortgage program are comparable to FHA or conventional mortgages. The location of the home you are buying will have to be in an eligible area. Roughly half of Gloucester County, NJ is available for 100% financing (All of Salem County, NJ is eligible).
This mortgage option is income restricted, but has very flexible (high) limitations, and the majority of home buyers will find that they qualify for this option. For more information, to be pre-approved, or to have any questions answered, contact Steve Kappre.
Steve Kappre is a Mortgage Planner with Treasury Mortgage, a subsidiary of Aurora Financial Group. For more info check out:
Last year's event had everything from aprons to chocolates, "pillow buddies" to embroidered scarves, free pictures with Santa, and plenty of neighborly faces!!
Sponsored by East Greenwich Home and School Association
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
Not only does this 100% mortgage require no down payment, but the seller can pay all of the buyer's closing costs, which will allow a home buyer to get into a home with very little money out of pocket.
Not only is there no required down payment, but the seller can pay all of the buyer's closing costs, which will allow a home buyer to get into a home with very little money out of pocket.
reservations are required. All concerts are held at the Main Branch of the Gloucester County Library in Mullica Hill (389 Wolfert Station Road (Route 45 located close to Route 322 (See map/directions below)).
I am not sure how long these guys have been here, but one thing is for sure; They seem to be doing VERY well.
This isn't the first time we have seen these guys, but the pictures here are from outside the front of our house, in a development, in the street. This guy either crawled up from the sewer or he walked a really long way from the nearest water!
Are you looking to purchase a home in South Jersey? One of the best mortgage programs available today is the USDA mortgage program. This mortgage loan is still somewhat unknown despite its popularity in this current market. A USDA mortgage allows a home buyer to purchase a home with zero money down. Not only is there no required down payment, but the seller can pay all of the buyers closing costs, which will allow a home buyer to get into a home with very little out of pocket.
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