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ATTENTION SANTA CLARITA VALLEY HOME BUYERS: Wonderful Stevenson Ranch Home Available for 100% Financing

By
Mortgage and Lending with Los Angeles & Ventura Counties in CA


Right now, there are dozens of properties in the Santa Clarita Valley that are eligible for 100% financing through the USDA Guaranteed Rural loan program.  Many of these properties are not run-down, dilapidated, dumpy REO's or short sales but rather move-in ready, equity sales with really motivated sellers. 

Set in the foothills of the Santa Susana mountains in Santa Clarita Valley, lies the little community of Stevenson Ranch.  Often referred to as part of the city of Santa Clarita, Stevenson Ranch is actually not within the the Santa Clarita city limits but is instead an unincorporated area of Los Angeles County.

 

 

One of the best things about Stevenson Ranch is that it is eligible for 100% financing through the USDA Guaranteed Rural Home Loan program however it rarely has very many properties that come up. 

The USDA Rural Guaranteed program extends 100% financing opportunities to help low-medium income residents purchase homes with no down payment required and no monthly mortgage insurance (MI).

This program is only available in designated USDA eligible areas, like Stevenson Ranch. There are also income limit guidelines that applicants must qualify for to be eligible to apply. These income limits are based on 115% of the median income for that county as well as family size.

 


 

This lovely 3bd/3ba home has more than 1,800 sq. ft. of living space on a nearly 9,000 sq. ft. lot.  This incredible two-story home has an upgraded kitchen and baths with new counters and cabinets and flooring. 

One of the best features of this wonderful home are the views of the from the back yard. 

Comparable rents in this neighborhood for similar properties runs from $2,600-$2,800 a month.  For less than $2,300 (PIT-no MI for USDA) a month, you could own this incredible home.


 

Today's real estate market can be really scary, which is why it's important to get as much information as possible before starting your search.  Finding out more about affordable home loan options and getting pre-approved is an absolute must.  

The pre-approval process is not a simple process and it's because it can get really complicated and convoluted that borrowers today need affordable loan options that are best suited for their own needs.  

That's what I'm here for and I would love to be able to assist you in your search for an affordable home loan here in Santa Clarita Valley.  Applications for this program can only be submitted by approved lenders; for more information on the USDA Rural program guidelines and eligibility, please feel free to contact me, Donne Knudsen at donne4loans@earthlink.net or at 805.2069123.

Posted by

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

 Donne Knudsen

Realtor® - CalState Realty Services

DRE#: 01364050 / NMLS#: 249822 

 

805.2069123

 

E-mail   My Blog  

Serving low-medium income individuals and families as well as first time buyers with both their real estate as well as their mortgage needs including down payment assistance

Los Angeles County  --  Ventura County

© 2010 - All Rights Reserved

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Real Estate Faster - Los Angeles, CA

Beautiful home in a great community! Best wishes for a quick and smooth transaction!

Jan 09, 2012 08:13 AM
Karen Richards
Keller Williams Realty Allen - Allen, TX

That looks like a great listing! Best of luck on a fast sale

Jan 09, 2012 09:12 AM
Connie Goodrich
Keller Williams Realty - McKinney, TX
CRS ABR (McKinney Realtor)Texas

Great information and the 100% financing is so attractive right now!  Like your new background on your post as well!  Wonderful information.

Jan 09, 2012 10:07 AM
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

No one does this type of blog better than you, Donne!  You're the Queen!!  And this sounds like an amazing opportunity for those shopping for a home and a great deal in Stevenson Ranch, CA ... and of course they all call you for mortgage service!

Gene

Jan 09, 2012 10:38 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Donne, I am sure this program is good.....I get nervous with 100% financing, we have not come out of the woods from the last meltdown.... sounds like we are creating the next meltdown.... Just my thoughts, I would rather have buyers "skin" in the game.(even if it is only 3-10%)

Jan 09, 2012 01:23 PM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Deven - Stevenson Ranch is really a great area and one that rarely ever has any properties come us.  This is a great property.

Karen - I would love the opportunity to sell this property to one of my borrowers.  I hope I can find someone who wants to purchase it.

Connie - We don't have a lot of USDA eligible areas around here so I don't get to do a lot of USDA loans but I have really enjoyed doing the ones I have.  Thx for compliment on the background.  I needed something different to go with my new banner.

Gene - Stevenson Ranch is really a pretty exclusive area, which is why properties so rarely come up.  Having one come up that is USDA eligible is a real treasure.

Endre - I can certainly understand your reservations, I too have some reservations about some loan programs but not about USDA loans.  In spite of the the 100% financing, the guidelines for this program are pretty stringent.  Furthermore, the default rate for these loans are some of the lowest among loan programs.  Their default rate is right down there with VA loans (also 100%), which have the lowest default rate of all loan programs.

Thx for stopping by everyone; I really appreciate it.  Have a good night everyone and a wonderful week too!  :)

 

Jan 09, 2012 04:43 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Donne -- I also had some reservations about this program until I read your response to Endre's comments. It appears the strict qualifying guidelines you note make loan defaults pretty rare.   Good information.   

It would have never occurred to me that Stevenson Ranch is classified as rural - there must be some interesting program parameters.   

 

Jan 10, 2012 02:18 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Good Morning Donne. USDA has been offering wonderful opportunities for buyers. I have seen a huge increase in buyers using this over FHA type loans. It has helped me sell some of my listings where buyers were being left out by fha. Have a great Tuesday.

Jan 10, 2012 02:21 AM
Michelle Gibson
Hansen Real Estate Group Inc. - Wellington, FL
REALTOR

Donne - What a great opportunity for Santa Clarita Valley home buyers.

Jan 10, 2012 03:22 AM
Donne Knudsen
Los Angeles & Ventura Counties in CA - Simi Valley, CA
CalState Realty Services

Michael - I agree that the 80/20 100% financing loan programs from years ago were a disaster and destined to fail.  However, VA loans and USDA loans are the only 100% programs that have been successful and by that I mean that they have very low default rates.

As for Stevenson Ranch, it's actually not an incorporated city but rather an unincorporated tract of the city of Los Angeles.  This combined with the fact that they population of Stevenson Ranch is less tha 20k makes it eligible for USDA loan program.

Scott - The advantage of USDA over FHA is that USDA has no mortgage insurance so even with their slightly higher rates, the payments can often be less than an FHA loan, which has kind of expensive mortgage insurance.

Michelle - It really is because this is a really high cost area and so for a low income borrower to buy a nice house with a great program.

Thx for stopping by everyone; I really appreciate it.  Have a good night everyone and a wonderful weekend too!  :)

Jan 26, 2012 04:46 PM