Special offer

USDA Loans - 100% Financing

Real Estate Agent with Century 21 M&M and Associates - Turlock Real Estate

adam dalton, turlock homesIt may not be widely know, but the potential for a 100% financing loan is still available. Backed by the U.S. Dept of Agriculture, the Rural Housing Service has 100% financing for you to use to purchase a home. USDA offers direct loans as well as guaranteed loans to individuals who meet their eligibility requirements and are purchasing homes that meet specific criteria. In order to be eligible for a USDA loans, the household must meet certain income guidelines. Also, the home must be in an eligible rural area as defined by USDA. You can find their service maps or search by specific property HERE. While homes in larger cities in the area such as Modesto and Turlock will not typically qualify, much of the surrounding areas such as Oakdale, Hughson, and Denair have eligible properties. As of October 1, 2011, USDA loans will have a built in .30% annual fee attached for the life of the loan. This will be increase the average loan by about $17/month for every $100,000 borrowed. In addition, the up front cost to obtain the loan will be decreased.

For more information on USDA loans, please visit USDA Rural Development.

And when you're ready to buy or sell in central California, visit us at Turlock Homes

Adam Dalton, Realtor @ Century 21 M&M and Associates

Adam C Dalton · Century 21 M&M and Associates

1351 Geer Rd Suite 103· Turlock, CA 95380

209.844.4967 · Fax: 209.840.5440 · Adalton@c21mm.com



Adam Dalton, Turlock Homes

JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

You are so right, Adam. This loan is perfect for so many home buyers. As long as the property is in an eligible area, it works out great. The seller can pay all the closing costs. With the reduced upfront funding fee and minimal monthly MI, it makes homes affordable. Also, the low interest rates means the buyers lock in on their housing payment vs. renting. Good post. 

Sep 20, 2011 01:01 PM
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

These are great loans for both sides of the transaction. Just a little education does the trick

Sep 20, 2011 01:02 PM
Ed Gillespie
WealthWise Mortgage Planning, a Division of American Pacific Mortgage Corporation NMLS #1850 - Folsom, CA

Great reminder for everyone!  Add in seller assistance or a grant program for closing costs and you have even a sweeter deal!

Sep 20, 2011 02:49 PM