For home buyers with low to very low income the USDA single family housing direct loan program offers and incredible opportunity to own an affordable home.
Here are some of the details on this program:
Only certain cities qualify:
For Atlantic County, NJ
Borogh of Buena
Buena Vista Twp.
Egg Harbor City
Egg Harbor Township
Port Republic City
To be eligible applicants must meet very low and low income limits. This depends on the number of people in the household and the household income. For example a family of four in Atlantic County with $54,700 income would qualify as low income and $34,200 would qualify as low income. Moderate income would be considered $60,200.
The maximum loan amount is $249,600.
Payment assistance is available to drop the rate to as low as 1% and currently the rate will not exceed 4.625%
For more details on this program, the $8,000 first time home buyer tax credit, or other financing opportunities, please call me at 609-484-9890 ext. 132.
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