100% Financing Through USDA/Rural Housing Development Loans

By
Mortgage and Lending

100% Financing through USDA/Rural Housing Development Loans 

640+ Credit Scores

No Monthly Mortgage Insurance Required

100% Financing + 3.5% Guarantee Fee can be Financed In

6% Seller Contributions Allowed

GUS (Guaranteed Underwriting System) Approval Required

Guaranteed Rural Housing Loan Program

The Rural Housing Service (RHS) Program provides very low and low to moderate income rural residents with better access to affordable home financing with little or NO DOWN PAYMENT or OUT-OF-POCKET cost.

Borrowers may obtain a loan to purchase a new or existing home that is located in a designated rural area. A rural community generally has a population of 10,000 or less; however some larger communities out side a Metropolitan Statistical Area can be considered RURAL.

To be eligible for RHS assistance, borrowers must lack sufficient resources to obtain conventional financing without RHS Guarantee Assistance.

Eligible Properties - 1 Unit SFH, Condo's and PUD's, Existing Construction over 1 year old and New Construction less than 1 year old with CERTIFICATE OF OCCUPANCY. Must be Owner Occupied Residences.

Government Provided Soft/Silent Seconds are OK

Loan Amounts OK up to 100% of Appraised Value and up to 103.5% if Guarantee Fee is financed into the loan amount.

Posted by

Jim Poole

Senior Loan Officer NMLS #351358

813.205.7958 Mobile

jptampa@live.com 

 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Real Estate General Information
Location:
Florida Hillsborough County Tampa Ballast Point
Groups:
Active Rain Newbies
Posts to Localism
Dedicated Bloggers
Consumer Mortgage Tips
"Whacked"!!!
Tags:
no down payment home loans
government home loan programs tampa florida
100 financing through usdarural housing development loans

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
161,750

Jim Poole

Zero Down, USDA Purchase Loans, FHA 203(K) Rehab & VA Streamline Loans
Ask me a question
*
*
*
*
Spam prevention

Additional Information