Well....it's no secret that our current real estate market is on FIRE!!! Especially in our markets in Coweta, Fayette, Fulton, and Henry County, well priced homes are selling faster than the hotcakes at IHOP on a beautiful Saturday morning. Smart buyers are noticing exceptional deals and taking every opportunity to capitalize on them.
WHERE DOES THIS LEAVE YOU??
Have you been considering purchasing a home, but are worried that your income isn't substantial enough to qualify? Or maybe you have very little funds for a down payment?
Well...there are viable options for homeownership for families such as yours!
The USDA Rural Development Loan Program has two loan types that are designed to help low and moderate income families who live in rural areas to be able to realize their dream of homeownership. These products offer 100% financing and very competitive loan interest rates for eligible homebuyers.
The Single Family Housing Direct Home Loan Product (also known as the Section 502 Direct Loan Program) provides assistance to low and very low income families who currently live in unsafe, decent, and sanitary housing to purchase a home and provide payment assistance subsidy that reduces the mortgage payment for a short period of time. This income based program is determined by the adjusted family income.
Applicants who apply to this program must have an adjusted income that is at or below the low-term limit for the area in which they purchase and are subject to income and credit eligiblity.
The Single Family Housing Guaranteed Loan Program assists low to moderate income households build, rehabilitate, improve, or relocate to a property in an eligible rural area by providing a 90% loan note guarantee to approved lenders. The funds can be used for a myriad of things from purchasing a new or existing home to be used as a permanent residence from making upgrades and/or renovations to your existing home! Applicants are subject to income and credit eligiblity.
For more information regarding these loan products or any other down payment assistance programs that are available in Coweta, Fayette, Fulton, or Henry County, please visit my website at www.vanessacalhoun.com or give me a call at 678-406-8432.
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