New years Update!!! Don't forget about USDA loans!

Mortgage and Lending

This loan is very similar to an FHA loan with 100% financing available and if the appraisal allows you can even finance the closing cost.  We often forget to use this loan as the property must be in a USDA designated area, so check you listings and use the look up at

*Generous household income limits also apply and you can check that out at the above link* 

Buyer qualifications

-No down payment required and zero move in cost is possible

-30 year fixed rate loan

-100 % loan plus you can add 3.5 % Guarantee fee on top of that!!!

-Finance closing cost & prepaids if apprasal is higher

-No sated maximum loan amount; maximum loan based on repayment ability

-No monthly mortgage insurance

-No cash contribution required from borrower

-Liberal Income limits (by country)

- Gift funds and grants allowed

-No cash Reserve Requirements

Property Qualifications

-Existing home

-New construction

-New Manufactured homes (Existing MH not allowed)

-Modular Homes

-Town Homes

-Condos (must be approved project)

Prohibited loan purposes

-Co-signers not residing in the household

-In-ground swimming pools unless waiver signed

-Furniture and personal property

-Income producing property

-Excess land typically exceeding 30% (site value) of total property value

-Previously occupied manufactured homes


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