California

The USDA Guaranteed Rural Housing Program in Del Norte County - This is the predominant form of financing in Del Norte County right now and with good reason.  Look at the highlights below.  Click here for more information on the GRH loan program and do not hesitate to call me for local lenders who do a great job with GRH loans.

We have many homes that would fit into this program.    Here is a link to all Del Norte County listings if you would like to have a look: Del Norte County MLS.   Check out this listing, a brand, spankin' new home for $232,000!  And don't forget the $8000 federal tax credit still available to first time home buyers until December 1, 2009. 

Program Highlights:

• 100% financing. No down payment required.
  
• Property must be located in eligible rural area, typically any town with a population of 25,000 or less that is not adjacent to a large metropolitan area (all of Del Norte County qualifies).
  
• No loan limits or sales price limits.
  
• One time 2% USDA Guaranteed Fee.
  
• Maximum loan amount is 102% of appraised value. USDA fee may be financed into loan amount regardless of appraised value.
  
• Loan can include closing costs if appraisal higher than sales price.
  
• No monthly mortgage insurance premium.
  
• 30 year fixed-rate, fully amortized loans only.
  
• One-unit, non-farm, primary residences, including single family dwellings.
  
• Income producing properties are not eligible.
  
• Manufactured homes are eligible if unit is 12 months old or newer and never occupied. Unit must be placed on permanent foundation and meet all required of FMHCSS. A builder's warranty of no less than one year must be issued to the home buyer.
  
• No cash reserves requirement.
  
• Borrowers do not have to be first time home buyers.
  
• No limit on seller contributions.
  
• Income limits 1-4 PERSON - $73,600;  5-8 PERSON - $97, 150.

I am here to assist you with all your Crescent City and Del Norte County real estate needs.  Thank you for stopping by and please leave a comment.

       

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