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Are There No Zero Down Home Loans in Lake Stevens for 2011?

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Mortgage and Lending with Barrett Financial Group MLO 254503, 181106

 

 Are There No Zero Down Home Loans in Lake Stevens for 2011?

 

As the title asks, Are There No Zero Down Home Loans in Lake Stevens For 2011?

Lake Stevens Aquafest Skiing TeamLast year, the super popular USDA Mortgage program ran put of money toward the end of April. This was because the demand for the program was more than expected.

There is no news of a similar shortfall of funds for 2011, but it is still early in the year. The USDA (United States Department of Agriculture) program for Rural Development has been key factor for helping homeowners obtain a Zero Down Home Loan in Lake Stevens.

Zero Down Home Loans in Lake Stevens are very hard to come by these days due to the sub-prime market meltdown. However, the USDA Rural Development program offers 100% financing (no money down) and also requires no mortgage insurance. Seller concessions are not as limited and the borrowers can be gifted the money for closing costs. The credit requirements are modest and actually don't have a minimum credit score limit!

There are 2 programs within the USDA Rural Development agenda. The Direct program and theLake Stevens Wrestling  Guaranteed program both offer the same benefits but the income requirements are different. The Direct program is for low income borrowers and the Guarantee program is for medium income borrowers.

Hopefully we will not run into the same shortfall of funds for this loan program like we did last year, but there are a few home market factors in this area that that seems to show more demand. Because Home prices have dropped so much, on many trasactions as of late, we have seen multiple offers. Boeing is hiring 11,000 workers in Washington  State this year, so that will increase demand for this $0 Down Home Loan.

 

Lake Stevens wyatt park

 

I can help you with purchase home loans as well as refinance loans with the USDA loan program. If you or a friend are looking for a Zero Down Home Loans in Lake Stevens, it could be a great loan for you, but there are some guidelines for qualifying. You can't make too much income to exceed the limit that USDA sets for. Also, they won't lend in the city core of say Seattle, as this is a home loan aimed at helping what they define as 'rural' communities.

Don't let that fool you, as pretty much everything East of HWY 9 is eligible. We can check the USDA map for you and also see if you qualify based on the income chart for the Lake Stevens area. The funds are currently available for this loan program bu be aware of the issues last year. Even though this is the USDA Guarantee Zero Down Home Loan Program, we can't guarantee funds will be available all year long. Call me now at 206-497-8605 to see if you can enjoy the benefits of this loan!

 

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Comments(9)

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Renée Donohue~Home Photography
Savvy Home Pix - Allegan, MI
Western Michigan Real Estate Photographer

I don't think too much of our land in the Las Vegas valley qualifies for USDA but I hear this is a BEAUTIFUL program!

May 12, 2011 12:21 PM
Nick Krehnke 425-202-5655
Barrett Financial Group - Seattle, WA
"Your Trusted Expert Friend in the Home Loan Biz"

Hi Renee!

Yeah in Las Vegas you got to go about 20 miles out from the city core.

In the USDA areas in my state, I got HUGE yard signs at about 300 homes that are for sale that say "This home qualifies for $0 Down Hoime Loan 4.25% APR". Needless to say the time on market for those houses is WAYYY less than the houses that do not have my sign :)

 

 

May 12, 2011 02:23 PM
Nick Krehnke 425-202-5655
Barrett Financial Group - Seattle, WA
"Your Trusted Expert Friend in the Home Loan Biz"

USDA Zero Down Home Loan Area Map

May 12, 2011 03:08 PM
Ann Allen Hoover
RE/MAX Advantage South - Hoover, AL
CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL

Hi Nick!  I remember that last year......had a young couple that were working on their credit and we were very anxious about getting the USDA loan.  Thankfully they got it worked out before the funds ran out.

May 29, 2011 02:40 AM
Nick Krehnke 425-202-5655
Barrett Financial Group - Seattle, WA
"Your Trusted Expert Friend in the Home Loan Biz"

HI Ann..thanks for stopping by :)

All I can say to that is ....at least ONE OF US was lucky :) 

I really push that programs since I am mere blocks from USDA eligible area.

The good thing is I have had a good start to 2011 because of it .

May 29, 2011 05:12 AM
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

I think your signature is great.  You get it all into one screen and say everything that needs to be said.  I had very specific people in mind that literally take four pages of JUNK.  You're cute, Nick.

Jun 27, 2011 06:36 AM
Nick Krehnke 425-202-5655
Barrett Financial Group - Seattle, WA
"Your Trusted Expert Friend in the Home Loan Biz"

Oh pretty lady....you make'a me a'blush :) he he

My signature is just HUGE, any higher rez and you could see my nose hairs :)

I guess you 'a couple' comments on that post!

HOLY MOLY! :)

Jun 27, 2011 07:31 AM
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

Normally when I write, people are wonderful and supportive.  There have been two posts that have brought out the claws in people, and it has amazed me.  This one (about AR signatures, really?) and the other was about not having a generic email address (nick@hotmail.com, something like that).  People came out in droves (about 250 comments), and there was some NASTY ones involved.  Isn't that silly?  And the comments just keep coming on this one.  So thanks for stopping by.  Nice to meet you.

Jun 27, 2011 04:52 PM
Nick Krehnke 425-202-5655
Barrett Financial Group - Seattle, WA
"Your Trusted Expert Friend in the Home Loan Biz"

AR comments are tame compared to Yahoo news! :)

Jun 28, 2011 04:02 AM