Great information below from Steve Kappre of Treasury Mortgage. The first order of buisness for any first time buyer or move up buyer should always be to understand your mortgage options and secure financing before you begin your home search.
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:
- NJ First Time Home Buyer Mortgages, grants, down payment assistance, and more
- NJ Reverse Mortgages
- All aspects of purchase and refinance mortgages up to and over 100% of the home's value
- Home renovation loans for refinance or purchase
- Conventional, FHA, USDA, VA, HMFA, PHFA, Police and Fire, Live Where You Work, and more
Contact Steve Kappre directly: 856-419-3561 | Subscribe to Steve's blog via e-mail