There is good news for those considering buying a home in Chisago County. Most communities in Chisago County are designated rural areas and qualify for the zero down option, Rural Development Program through the USDA. Best of all this is NOT a program just for first time home buyers…Anyone can take advantage of the program if the home and your income meet the requirements.
Now when some people hear "rural", they immediately start to think I will have to buy a broken down old-time farmstead in the middle of nowhere. Nothing could be further from the truth! According to the USDA Rural Development website, the program was created to "build stronger, more vibrant rural communities across the nation." This unique housing loan program does apply in many counties in the north and east metro that aren't so far from the cities and they don't have to be farmsteads either! Communities in Isanti and Chisago Counties including North Branch, Stacy, Chisago City, Lindstrom, Shafer, Taylors Falls and many others can possibly qualify for this program. If you are considering buying a home in any of these communities, it is a great program to look into. But only a handful of loan officers really know the ins and outs that make a program like this work.
I do work in several of these communities and have shown homes in these areas of the past few weeks. The deals throughout Lindstrom and North Branch are nothing short of amazing. Homes that are 5-6 years old are being sold for $30-50K less than just a few years ago! Amazing properties with 4 Bedrooms, 2 Baths, 3 car garages and ½ acre yards for well under $200K. Beautiful homes in move in condition…And with the USDA program they are available for ZERO DOWN!
I have a couple of great loan contacts that do understand USDA and can get you started on your path to home ownership with a USDA loan. These mortgage professional know I work with buyers and sellers all over Chisago County and the north and east metro so have given me a quick lesson on this unique CONVENTIONAL LOAN program. Some of the features and benefits include:
· NO down payment
· NO monthly PMI
· The seller is allowed to pay all reasonable closing cost and prepaids up to 6%
· NO hit to the interest rate for the zero down
· NOT just for first time home buyers
· NO reserves needed
Understanding the restrictions is essential but the benefits to the program are enormous! If you are considering a home in Chisago County, plan on speaking with a qualified loan officer that understands the rural development loan program before starting your home search. You could be able to afford more home than you expect. Likewise, working with a REALTOR ® that knows understands the current market conditions of the communities within this program are just as critical to your dream home becoming a reality.