If you or your buyer is looking for homes anywhere on the Eastern Shore of Maryland, a Rural Housing Loan is a great option.  There are some metropolitian areas, for example, within the city limits of Salisbury that are not eligible.  This is a 100% loan.  There are strict income, housing and debt to income ratios to keep in mind.  The housing ratio cannot exceed 29% of gross income.  Total debt to income cannot exceed 41%.  On this program, I can structure a loan so that the seller pays closing costs and buy is out of pocket $500 in earnest money.

Call me at 443-523-5599 to review your situation for other specifics or check . 

Molly Lionberger, Home Mortgage Consultant

Prosperity Mortgage

 

1 Comments on Rural Housing Loans strong on Maryland's Eastern Shore

OCT
27
835,637 Points 213 Featured Posts Localism Sponsor Outside Blog Hit Router

Indeed.  UDSA Rural loans finance about 75% of the buyers I refer to our Eastern Shore broker partner.

 

 
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Molly Lionberger

Easton, MD

More about me…

Prosperity Mortgage

Address: 1315 Mt. Hermon Road, Salisbury, MD, 21804

Office Phone: (443) 523-5599

Cell Phone: (443) 523-5599

Email Me

The purpose of my blog is to provide mortgage industry information that will help homebuyers obtain the best financing for their individual needs and to help realtors close more deals. Knowledge is power. With the changing of the rules within the mortgage industry, it is more important than ever for realtors to know basic credit guideline rules.


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