Home > Blogs > Trent Warner > Trent Warner - Monopoly Builder

100% Financed Home Loans in Monroe, OH 45050 still available

Mortgage and Lending with Warsaw Federal S&L

July 24, 2011 11:36 AM

100% Financed Home Loans in Monroe, OH 45050 still available...for now

As the title suggests, 100% Financed Home Loans in Monroe, OH 45050 are still available...for now. It is rumored that the ever popular USDA Mortgage program is in jeopardy of running out of funds in the latter part of April. This program has been very successful and because of its popularity, the funds set aside by the USDA are running low. The USDA (United States Department of Agriculture) program for Rural Development has been a key factor for helping home owners obtain a 100% Financed Home Loan in Monroe OH 45050.

100% Financed Home Loans in Monroe, OH 45050 are slowly becoming a thing of the past due to the sub-prime market melt down. However, the USDA Rural Development program offers 100% financing (no money down) and also requires no mortgage insurance. Seller concessions are not limited and borrowers can be gifted the money for closing costs. The credit requirements are modest as a 620 score can qualify.

There are two programs within the USDA Rural Development agenda. The Direct program and the Guaranteed program both offer the same benefits but the income requirements are different. The Direct program is for low income borrowers and the Guaranteed program is for moderate income borrowers. It is the Guaranteed program that is running low on funds. Currently, the national office is petitioning Congress about re-appropriating funds from the Direct program to the Guaranteed program. There is no word yet if their efforts have been successful. Some lenders have already stopped accepting USDA loan applications.

Trent Warner at Union Savings Bank is a regional leader at the large st mortgage Lender in Ohio and the

USDA loan program is very popular. If you or your client is looking for a 100% Financed Home Loans in Monroe, OH 45050, we are currently still accepting applications for the USDA loan but it is unclear how much longer the funds will last. We are informing our clients that these funds may not be available in the very near future and to best serve them we are qualifying them on backup programs such as the OHFA (Ohio Housing Finance Authority) Step-up program.

Give me a call today and let's see what your options are!

Trent Warner

                                Sr. Loan Officer
                        Union Savings Bank
                        Office: 513-842-4590
                        Cell: 513-842-4590
                       Fax: 513-297-0894
                        twarner@usavingsbank.com