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no down payment: USDA Rural Housing Mortgages - Increased Income Limits - 04/22/09 02:50 PM
On Monday, April 20, USDA Rural Housing income limits were increased. Here are our local limits and, if you are located elsewhere, just email me and I can tell you the limits in your area.
Okaloosa County:
If there are 1-4 persons in the household, maximum income is $76,250 and if there are 5-8 persons in the household, maximum income is $100,650
Escambia, Santa Rosa, Holmes, Bay and Walton Counties:
If there are 1-4 persons in the household, maximum income is $73,600 and if there are 5-8 persons in the household, maximum income is $97,150.
This is a great tool to … (0 comments)
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no down payment: Proposed Income Limits for USDA Rural Housing Loan Program Go Into Effect January 20, 2009 - 12/04/08 06:45 PM
As long as nobody complains, the proposed income limits will go into effect on January, 20 for the USDA Rural Housing mortgage program. The tables below are for FLORIDA only; other states will have the increases, as well, but the amounts will vary. This is for 100% financing that also allows a buyer to finance their closing costs!
CURRENT TABLE
For each person over 8-persons, add 8% of the 4-person limit.
NOTE: This is not an income increase for the 4-person and 8-person households. It simply removes the tiers for the 1-3 and 5-7 person households. It does have … (1 comments)
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no down payment: 100% Financing with Rate Under 4%???? Is it possible???? - 12/01/08 11:44 PM
YES!
With a 2/1 buy down program under the USDA Rural Housing Loan program, you can get a rate of 3.75% for the first year, 4.75% for the second year, and 5.75% for years 3 through 30!!
The buyer can't pay the fees to get these rates as it has to come from another party, ie: the seller or the Realtor but it's a program that is great for using if you are anticipating higher income over the next 24 months!
Call me at 850-424-6866 or email me at sue@northstarmg.com for further information. You can even "move in for a penny" on this … (0 comments)
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no down payment: Florida Real Estate Foreclosures: Inflated Facts or Fiction?? - 10/19/08 10:05 PM
Florida has gotten the reputation for being "the foreclosure capital of the nation". What they don't tell you is that the basis of this "fact" is the the Lis Pendens filing, which is the first step in the foreclosure process.
A Lis Pendens is file and it can take 6, 8, 12 8, and even 24 months in some cases to actually get to foreclosure. During this time (after the filing of the Lis Pendens and prior to the foreclosure), many of these properties are being sold (either as a short sale or a regular sale), or some of the … (3 comments)
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no down payment: PROVEN USDA Rural Housing Mortgage Loan Pro!!! - 10/06/08 06:27 PM
My title on ActiveRain says that I am a "USDA Rural Housing Mortgage Loan Pro". I am licensed to do USDA Rural Housing loans in Florida, Alabama, Georgia, North Carolina, South Carolina, and Tennessee.
The media tells you that 100% financing does not exist today for your buyers today. This is not true. Of course 100% financing is available to Veterans but it is also available through the USDA via their Rural Housing program.
If you are going to place your commission check in the hands of a loan officer where your client needs 100% financing, send them to an expert. … (6 comments)
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no down payment: USDA 100% Financing, No Down Payment, Rates Back at 5.5% No Points/No Origination Fee - 10/06/08 12:12 PM
Today's rates on a USDA Rural Housing loan are at 5.5% again with no points, no origination fee. There is a 2% financed funding fee but no monthly mortgage insurance. What does this mean to a person who is currently renting? They can buy a home at a sales price of $155,400 and have a payment less than $900, not including taxes and insurance. This $900 payment does include the financing of the 2% fee.
Here are the sales prices that can be purchased to keep principle, interest and financed funding fee under a renter's current rent; these figures do not … (1 comments)
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Sue Botelho-USDA Rural Housing Mortgage Pro
Fort Walton Beach,
FL
More about me…
Waterstone Mortgage Corporation
Address: 2 Park Circle, Suite A, Ft. Walton Beach, FL, 32548
Office Phone: (850) 362-6901 x 2
Cell Phone: (850) 797-7946
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