Home > Blogs > Jeff&Grace Safrin > https://activerain.com/blogs/saffy

Information about Buying a Northwest Indiana Home with a U.S.D.A Loan

By Jeff&Grace Safrin

Real Estate Broker/Owner with F.C.Tucker 1st Team Real Estate

September 30, 2011 06:57 AM

Map of rural areas in NW Indiana where USDA loans may be used to purchase propeties for sale Not everyone qualifies for a USDA Loan (based on income and credit).

Not every Northwest Indiana Home For Sale is located in a region that qualifies it for U.S.D.A. Financing!

Before we work with any home buyers in NW Indiana, we have them pre-qualified first.

If they qualify to finance their home purchase with a USDA loan, next we narrow down the choices of the homes for sale that are geographically in the rural areas of Lake County, Porter County, or La Porte County in NWI where U.S.D.A loans are acceptable according to the current Property Guidelines listed below*

*Yellow shaded areas on the map give you a rough idea of where rural housing loans may be used in buying homes in the Region of Northwest Indiana counties of Lake, Porter and La Porte. We verify every address online and with the lender before scheduling showings!

You can Achieve the American Dream with

USDA Rural Development Housing Loan!

Talk To Tucker Today to help you !

This program, through USDA, features 100% financing for qualified moderate income families desiring to purchase single family homes with little to no cash investment.

Overview->

*Fixed Rate Purchase – 30 Year term

*Guarantee Fee of 3.5%-May be financed above appraised value

*Currently no monthly PMI

*Seller Concessions up to 6%

*Income limits based on adults in household

*Single family dwelling or eligible Condo/PUD*

Property Guidelines

Well – water must be tested to state guidelines

Flood Zone – requires elevation certificate

Repairs – based on FHA minimum property standards

Pool - value must be deducted from appraised value

No income producing capabilities-orchards/tillable/cell phone towers/apartment over garage/in law quarters

Outbuildings/pole barns/service buildings – can’t have more than $10k combined value and can’t exceed specific size

Comments(4)

Comment

Show All Comments

Sort:

Mary Yonkers

Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA

Erie/PA Real Estate Instructor

Jeff & Grace--USDA is good program for specific areas and for individuals that can qualify. Yes, it can be frustrating, but also gratifying. My mother's house is being sold to buyers via SDA loan. Our fingers are crossed that all goes well to settlement.

It is nice to see you this evening.

Mary

Sep 30, 2011 12:49 PM

Jeff&Grace Safrin

F.C.Tucker 1st Team Real Estate - Valparaiso, IN

SpousesSellingHousesTM

hi Mary - good to hear from you! Good Luck with your closing - a lender expereinced in USDA loan process is key to a smooth transaction!

sincerely,

grace

Oct 01, 2011 02:47 PM

Thanks, Grace. So far so good, but we all know that it's not over until the check has been cashed. I used to say 'check in hand.' Not these days. I saw an agent last week who had been waiting for a week++ for authorization to cash commission check. The REO bank was the hold-up.

Oct 02, 2011 03:55 AM

Hi again Mary, agreed...No Check = No keys (Jeff always says :)

fortunately, we have never had a bank check not clear a closing as in your agents example.

appreciate you sharing.

Oct 02, 2011 11:56 AM

Information about Buying a Northwest Indiana Home with a U.S.D.A Loan

Comments(4)

Jeff&Grace Safrin

Service Areas

Real Estate Resources

Recent Posts

Popular Posts

Additional Information

Real Estate Information