No Money Down Rural Housing USDA Loans in Anna Maria Florida are back and fully funded. The new sub-prime loans of today are the government backed or sponsored loans. The FHA Loan is one we are all familiar with but how many of you know about the USDA Rural Housing Loan. 

Here's how it works

100% financing on homes located in certain geographical area's with borrower's who are in certain income ranges.

That's it!

Use this link to see if the property qualifies by falling into one of the designated geographical area's

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

Remember when income qualifying to use the income of the ENTIRE family.

Seller can pay up to 6% of buyers closing cost

The 3.5% Guarantee Fee is included (Financed) in with the loan amount

100% of borrowers cash to close can come from a gift.

Must have a minimum credit score of 640.

USDA Loans are Assumable

No Manufatured Homes

For a list of Income limits by Region go to:

http://www.rurdev.usda.gov/HSF-Guar_Income_Limits.html 

 

Jim Poole

Senior Loan Officer NMLS #351358

813.205.7958 Mobile

jptampa@live.com 

 

 

0 Comments on No Money Down Rural Housing USDA Loans in Anna Maria Florida

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I give consultations on Government Home Loan Programs. I advise on how to use these loans to Buy and Sell more homes. Many of todays home buyers are first time home buyers; will have limited funds to put down and will have no money for needed repairs or desired up-grades. Many will be younger and will have marginal incomes. The USDA Loan and the FHA Loan are designed to address these issues. The USDA loan offer 100% Financing while the FHA 203k loan program is attracting a lot of attention from the more sophisticated buyers of aging and bank owned properties.


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