usda loan: USDA Loan Qualifying Area for Queen Creek Arizona - 04/22/11 03:01 AM
What Areas of Queen Creek AZ Qualify For The USDA Loan?
Queen Creek Arizona is an area where, if you find a home you like, you can use our USDA Loan to buy a home and get these really awesome benefits:
Not any down payment at all Lower monthly payments than ANY FHA loan Low closing costs Quick closing (as little as 15 days) Get your Earnest Money Deposit back at closing How great would it be to buy a home in Queen Creek with no money down, go to closing and instead of writing a big fat check; getting a … (4 comments)

usda loan: Is Fannie Mae Helping the USDA Loan look cheaper? - 02/08/11 10:14 AM
Fannie Mae Is Making Our USDA Loan Program Much Cheaper I’ve been helping people for years to get the cheapest, easiest loan possible to buy a home in Arizona with the USDA Loan Program.  Now, in a recent article in USA Today it is reported that Fannie Mae and Freddie Mac are raising their loan costs to home buyers.  This will make the USDA Loan Program even cheaper than it is now.  Fannie and Freddie fund home loans that are known as Conventional loans and have been the largest supply of home loans forever.
While the USDA Loan Program has limits … (1 comments)

usda loan: How Much Money Is Too Much Money To Qualify For A USDA Loan In Arizona? - 02/02/11 05:41 AM
Do You Make Too Much Money To Qualify For A USDA Loan In Arizona?
While the USDA Loan does not have a maximum loan size they do have a maximum qualifying income limit.
People ask me all the time, what are the income limits for the USDA Loan.  So let’s take a moment and define really quickly what an income limit is.  The USDA defines income limit as the Adjusted Household Annual income, that's it.
Did you catch that?  There is an important point there that many people naturally overlook, it’s the Household Annual Income.
What that means is that … (0 comments)

usda loan: How To Buy A Home In Arizona With A Swimming Pool By Using A USDA Loan - 01/21/11 09:26 AM
Even When They ALL Say You Can’t..Yes You Can! I get this question quite a bit, probably because I’m in Arizona right?  And a pool is a great way to keep cool in our fairly hot summers.
But a lot of lenders will just say NO when it comes to using a USDA loan to buy a home with a swimming pool.  They probably shy away because a property with an in ground swimming pool not only has to get the local Rural Development office to approve the Guarantee in order to get a USDA Loan, but they also have to … (2 comments)

usda loan: The USDA Loan vs The FHA Loan, Will The Really Winner Please Stand Up? - 01/21/11 05:20 AM
Which Is The Better Loan, The USDA Loan or The FHA Loan? Well I do quite a bit of both and for the majority of people the USDA loan will be a much better financial move for buyers in Arizona, and here’s why.
FHA has a down payment requirement, and it is currently at 3.5% of the purchase price.  The USDA Loan does not require any sort of down payment at all.  So right there, you get to keep that 3.5% down payment in your bank account; that is if you even have it in the first place, right?
FHA also … (4 comments)

usda loan: How To Get A 0 Down USDA Rural Development Loan Even If Your Spouse Has Poor Credit - 01/20/11 06:39 AM
More people would be looking at buying a home in Arizona with the No Down Payment USDA Loan if they could buy without their spouses negative credit.  There are a great deal of reasons why one spouse may have very good credit and the other may have some negative credit marks; especially in this current economy.

They are called Spouse Only Loans and the USDA Loan does allow them.  The Spouse Only Loan looks ONLY at the credit report history of the borrowing spouse and does NOT even look at the credit history for the non-borrowing spouse.  The good news … (2 comments)

usda loan: How To Optimize A Credit Score For THe USDA Loan Program - 01/18/11 07:29 AM
Credit Score Optimization Tips for the USDA Loan Program With lender’s continuing to tighten their guidelines, it is more important than ever to know how to optimize your credit score for getting a USDA Loan here in Arizona.  There are five components that make up your credit score, let’s take a look at them really quickly.
They are, in order of importance:
Your Payment History, which includes things like late payments, collections, on time payments, bankruptcies and such.  Keeping a good payment history is not only important for your credit score but also important for simply qualifying for the USDA Loan. … (3 comments)

usda loan: USDA Loan Qualifying and the Deferred Student Loan - 01/04/11 03:14 AM
How Student Loans Impact USDA Loan Qualifying When people are looking at getting an Arizona Home Loan whether it is a USDA Loan or FHA Loan who have existing student loans, they need to be aware of how those student loans will impact their qualifying.  The USDA Loan Program is very popular among recent graduates, and a couple reasons are because not only is there not a down payment requirement but it is the simplest home loan to get.
Because you don’t need to fork out a ton of cash to get into the USDA Loan Program it has gotten VERY … (2 comments)

usda loan: So Who Can Pay How Much Closing Costs On Your USDA Loan - 12/08/10 02:35 AM
Do you know who is allowed to pay closing costs on a new USDA Loan? Most buyers just leave it up to the real estate agent to negotiate closing costs with the seller.  And this can be a mistake that can cost you thousands if you don’t provide your agent with the proper information about the USDA Loan and their rules regarding seller concessions.
If you do have the correct information for your agent about the USDA Home Loan then they can do a proper analysis for you in order to prepare your best offer which would take into consideration several … (0 comments)

usda loan: USDA Rural Home Loans on the Senate Floor right NOW! - 05/24/10 10:25 AM
The USDA Loan has been on hold with the Rural Development offices across the country as they “ran out” of funds for USDA Loans.  There are several bills on the table that would eliminate the funding problems for USDA Loans and one is being reviewed in the Senate right now.
The most immediate need for home buyers who need a USDA Loan is to get the funding going right now.  H.R. 4899 is the Disaster Relief and Summer Jobs Act of 2010 which the Senate is discussing today at 3:00.  If it passes it will provide $102.7 million to the USDA … (47 comments)

usda loan: USDA Rural Home Loan Guidelines - Now ONLINE - 12/29/09 09:43 AM
I’ve had many requests to provide basic USDA Rural Home Loan Underwriting Guidelines on our site  The USDA Rural Home Loan guidelines are not easy to find online, however you can get your own copy of the USDA Loan guidelines directly from your local Rural Development office.  Here are the online USDA Rural Home Loan Guidelines.
If you would find it useful to provide a link to USDA Rural Home Loan Guidelines on your site, here is the link to use:
<a href=””>USDA Guidelines</a>
Following are excerpts from the USDA Loan Rural Development basic eligibility and underwriting guidelines.  They are … (1 comments)

usda loan: USDA Rural Development Home Loan Has Lower Monthly Payments Than FHA - 10/20/09 03:35 AM
USDA Rural Development monthly mortgage payments Did you know that for the same loan size and a similar rate that the USDA Rural Development Home Loan will ALWAYS have a lower payment than FHA?  Sometimes the USDA Rural Development payment will be substantially lower.
Let’s talk rates and payments…
When most people shop for a USDA Rural Development Mortgage the first thing they ask is… “What’s the rate?”  The problem is that they are often comparing rates for a USDA Rural Development home loan to an FHA Mortgage Loan or Conventional Loan.  Some of the time, the USDA Rural Development rate … (3 comments)

usda loan: $8000 First Time Home Buyer Tax Credit Video - 10/04/09 06:23 AM
The $8000 First Time Home Buyer Tax Credit is set to expire soon and is available for Rural USDA Loans. The deadline to fund your home is November 30th. That isn't even 60 days from today to qualify for the Home Buyer's Tax Credit. The average AZ Mortgage is taking 35-45 days to close. The home search takes about 2 weeks minimum... right? Here are some things you need to know about qualifying for the $8000 First Time Home Buyer Tax Credit with your Rural USDA Loan:
The Home Buyer's Tax Credit is for the First Time Home Buyer only. If … (2 comments)

usda loan: USDA Success Story - Borrower Who Doesn't Qualify For FHA Home Loans Obtains USDA Home Loan - 08/25/09 01:24 PM
USDA Home Loan Success Stories An Arizona First Time Home Buyer with high debt to income ratios obtains an Arizona Rural Development USDA Home Loan.  Truly a wonderful ending to this one.
Kathy is a single mom working hard to find a great home where she could raise her two girls.  She had been working with a loan officer who offered an FHA Mortgage Loan pre-approval.  But the loan officer made one critical mistake and did not correctly calculate her income.  So instead of qualifying for the home, she was about to lose it. He told her she was turned down … (0 comments)

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Paul Dunn

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