Are you an Oregon home buyer thinking that you need to come up with a large down payment in order to purchase a home? You pay your bills on time, have a little bit of savings set aside, feel pretty secure in your job and are tired of renting? You are looking at the amazing prices available on homes in Southern Oregon, and are beginning to realize you just might be able to own a home for what you are paying in rent?

Have you heard of the USDA Guaranteed Rural Housing program? Here are some of its key features:

•  102% financing based on appraised value. If appraised value exceeds sales price, you can finance closing costs!
• No monthly mortgage insurance, pay only a one time guarantee fee of 2% that can finance above the appraised value (up to the 102%).
• You do not have to be a first time homebuyer.
• No minimum cash contribution from borrower. A true no money down program!
• Program allows seller to contribute up to 6% toward your closing costs
• 100% gifting is allowed if you have a family member wishing to help you out.
• Up to 10k in repairs can be financed (escrow holdback to be established) if you find a good deal on a foreclosure or short sale.

This program is meant to be used for rural properties. This does not mean only farm or ranch land, though. We have many eligible areas here in Southern Oregon, like Ashland, Talent, Phoenix, Jacksonville, White City, Eagle Point and Shady Cove.

Have you been told funding has run out for this program and your loan cannot close? CALL ME!!!!! We have lenders who are still proceeding and closing these USDA Guaranteed Rural Housing loans without interruption. They are NOT WAITING FOR CONGRESS TO REALLOCATE FUNDING!!!!!

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com

http://activerain.com/blogsview/870196/Yes-USDA-Guaranteed-Rural-Development-Loans-Can-STILL-Be-Funded-in-2009