Newberg OR Homes Qualify for 100% Financing Under USDA Home Loan Program
It is becoming harder and harder for a Newberg home-buyer to purchase a home, yet there are still many affordable homes if you have a down payment or the advantage of a program that helps you qualify for more home.
Through a litle used federal government loan program, the USDA Guaranteed Rural Home Loan, we are able to offer financing up to 102% of the appraised price on the purchase of a new home. This allows for the purchase price, seller contributed closing costs and the cost of the one time mortgage insurance.
Eligible Persons
- Have an adequate, documentable and dependable income.
- Must be a U.S. citizen or be legally admitted to the United States for permanent residence.
- An adjusted annual household income that does not exceed the published limits for Washington county . Call me for information on the income limits. Income includes the total gross income of the applicant, co-applicant, and any other adult in the household. It excludes certain expenses and adjustments. The larger the family, the more income is acceptable
- A credit history that indicates a reasonable willingness to meet obligations as they become due.
- Demonstrate repayment ability.
How to Apply
Click on the following link. Oregon Rural Loans
Homes that Qualify
- Guaranteed loans can be made on either new or existing homes.
- Plumbing, heating, water, waste disposal, and electricity must be certified as adequate and the dwelling must be free from termites and dry rot.
- No restrictions exist on the size or design of the dwelling financed, but must be considered modest.
- Must be a residence, not a farm.
- Dwellings with in-ground swimming pools, are prohibited.
- Homes must be located in rural areas. Rural areas include open country and places with a population of 10,000 or less and, under certain conditions, towns and cities with less than 20,000 population. Call me for a list of additional eligible areas..
Larry Morris is a Certified Mortgage Planning Specialist with American Nationwide Mortgage. in Newberg, Oregon. He can be reached at larry@PDX-Mortgage.net. His website is www.PDX-Mortgage.com. This material is copy protected 2008 by Larry Morris, Mortgage News that Matters. All Rights Reserved His opinions do not necessarily represent the views of Morgan Financial, Inc.
Licensed in: OR, WA.
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