Government Loan Programs
Welcome to Whitesboro Tx Homes for Sale, Your Whitesboro TX Realtor Laura Filip offers information on buying or selling Whitesboro Tx homes and properties and real estate around Whitesboro Tx.
Have you thought about purchasing a home in Whitesboro TX? Are you thinking about what loan type and or program would best suit your needs?
Government Loan Programs
USDA US Department of Agriculture Zero down, 3.5% funding fee rolled in Seller can contributions of up to 6% of the sales price. Credit score requirements 620-639 restrictions can apply, 640+standard bond and grants
FHA Federal Housing Administration 3.5% down payment 1% upfront funding fee and up to 6% sellers contribution of the sale price of the property. 640 fico score
VA Department of Veterans Affairs Zero 0% down payment for Eligible Veterans 2.15 to 3.3% funding fee, Zero for disabled Vets , up to 4% plus 1650 in Vet non allowable in sellers contributions . 640 fico score
Here are some basic qualifications these are just basic information and depend on each person’s circumstances.
Foreclosure – must be three yrs from date of the foreclosure
Judgments and liens must be settled or paid prior to close
Delinquent federal debts must be caught up and of paid off
Credit is normally re-pulled prior to closing and this is a big one to take notice of….. DO NOT GO OUT AND BUY A NEW CAR A HOUSE FULL OF FURNITURE PRIOR TO CLOSING… IN MOST CASES YOU WILL HAVE THE ITEMS AND NOT THE HOUSE…. THIS CAN AND WILL CHANGE YOUR DEBT TO INCOME LEVEL Be careful the mistake is and can be costly to you and the purchase of the house can be gone….
What type of properties qualify for VA, FHA and USDA Loans, SFR single family residence, town home, 2-4 unit USDA will not allow 2-4 family purchases, and no manufactured homes are usually considered not in all cases must most of the time Double Wides single wide sect are not allowed Check with your lender for more specifics.
This is for informational purposes only and each person’s needs are different and will qualify differently.
Give us a call today we are here to help you with all of your Real Estate needs.
You can reach us directly at 903-271-4978
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