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usda loan expert: USDA Rural Housing Loan - 10/16/09 11:43 AM
USDA Rural Housing Loans are the best way for an individual or family to build wealth, earn the first-home buyer tax credit, and have affordable payments!  Obviously, the real estate market has many great deals.  For those that have the money, there are so many opportunities.  So, are the wealthy the only ones that can afford to take advantage of all the fantastic deals out there. NO!  Typically, for an investor to purchase a property at a foreclosure sale, or at the court house steps, they must have cash on hand to purchase the foreclosed property.  Or, if an investor plans … (1 comments)

usda loan expert: USDA "Officially" increases income limits for purchase and refinance loans! - 04/19/09 10:44 PM
Tomorrow, April 20th, is the day that the U.S Department of Agriculture increases its maximum income requirements to qualify for Rural Development Guaranteed home loan program.  This increase is long over due.  Technically, USDA is at least a month late in the increase. 
The new income limit will allow so many for buyers of primary residences the ability to qualify for a USDA insured home loan.  Currently, the income requirements are structured on a "per member" household.  Tomorrow, Monday, April 20th, the income limits will be transformed into a two-tier system.
For borrowers that are looking to purchase a primary residence, … (1 comments)

usda loan expert: Obama's NEW Refinance Program for Depreciated Homes!!! - 04/17/09 03:28 PM
Many of Obama's housing refinance plans are still being worked on and might possibly fail to happen.  However, one program just became available to current home owners who have had trouble refinancing their current primary residence or second home due to market depreciation.  Many refinance transactions are turned down due to high LTV's (Loan to Value).  Any 95% or higher is unacceptable.  Anything greater than 80% to 95% requires mortgage insurance.  NOT ANY MORE WITH THIS PROGRAM!
WHO IS ELIGIBLE?
Borrowers who are CURRENT on their mortgage payments and are having trouble refinancing because market depreciation has increased their loan-to-value which has made them … (0 comments)

usda loan expert: Rates rally into the holiday! - 11/25/08 03:10 PM
Mortgage rates fell today by roughly 1 half percent.  Here is a quick update on rates.
Conventional 30 year fixed = 5.25%
FHA 30 year fixed = 5.5%
USDA 100% rural 30 year fixed loan = 5.5%
 
Hopefully, this rally will continue into next week.  The fed has not even begun to purchase Fannie and Freddie's $100 billion in debt or the $500 billion in mortgage backed securities.  So far, rates have fallen with no action.  I am curious to see where rates head next week. 
Everyone have a Happy and SAFE Thanksgiving!
Best Wishes,
Justin Messer
… (3 comments)

usda loan expert: Eligible areas for USDA loans - 11/18/08 11:15 AM
Follow this link to see the Georgia areas of eligibility.  The majority of the state is eligible except for the largers cities and most of metro Atlanta.  The lighter areas are eligible for 100% financing.
http://eligibility.sc.egov.usda.gov/eligibility/eligibilityAction.do?pageAction=countyMap&state=GA&st=13&cnty=023&mapname=GA_S&propertytype=#form.PropertyType
You can also visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do to select your state.  If you or your client would like or needs affordable financing, then consider USDA loans and contact the southeast's USDA loan expert.
Justin Messer
… (0 comments)

usda loan expert: Eligible areas for USDA loans - 11/18/08 11:08 AM
Follow this link to see the Georgia areas of eligibility.  The majority of the state is eligible except for the largers cities and most of metro Atlanta.  The lighter areas are eligible for 100% financing.
http://eligibility.sc.egov.usda.gov/eligibility/eligibilityAction.do?pageAction=countyMap&state=GA&st=13&cnty=023&mapname=GA_S&propertytype=#form.PropertyType
You can also visit http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do to select your state.  If you or your client would like or needs affordable financing, then consider USDA loans and contact the southeast's USDA loan expert.
Justin Messer
… (0 comments)

usda loan expert: USDA Increases Income limits- More can qualify. - 11/11/08 09:50 AM
 
USDA's Guaranteed Rural Housing loans are excellent programs that offer higher LTV limits to lower income families. 
Currently, the income limitations are based on the number of household members. 
Household size     Income Limit
                   1 -   $48,000
                   2 -   $54,850
                   3 -   $61,700
                   4 -   $68,550
                   5 -   $74,050
                   6 -   $79,500
                   7 -   $85,000
                   8 -   $90,500
This income limits are for all of Georgia.  Metro Atlanta counties are approximately $10,000 higher per person. 
Now, as of January 20, 2009 the income limit structure will change from 8 seperate limits to 2 seperate limits.  … (9 comments)

usda loan expert: USDA Increases Income limits- More can qualify. - 11/11/08 09:44 AM
USDA's Guaranteed Rural Housing loans are excellent programs that offer higher LTV limits to lower income families. 
Currently, the income limitations are based on the number of household members. 
Household size     Income Limit
                   1 -   $48,000
                   2 -   $54,850
                   3 -   $61,700
                   4 -   $68,550
                   5 -   $74,050
                   6 -   $79,500
                   7 -   $85,000
                   8 -   $90,500
This income limits are for all of Georgia.  Metro Atlanta counties are approximately $10,000 higher per person. 
Now, as of January 20, 2009 the income limit structure will change from 8 seperate limits to 2 seperate limits.  The … (0 comments)

 


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