I have previously written about the USDA Rural Development NO Down Payment Loan in St Mary's, Calvert and Charles County. The RD loan may be used to buy a house for sale if both you and the house qualify.
However many houses for sale are not in the Rural Development eligibility areas. So what do you do if the house you have chosen to buy is not in the RD area and you have limited funds saved?
First of all if you are a Veteran, you should be able to use your Veteran's benefit to buy a house with a NO Down Payment VA loan.
Most FHA loans require 3.5% Down Payment. Is this more than you have saved?
I recently learned of a 2% Down Payment Loan from Wells Fargo Home Mortgage in St Mary's and Calvert Counties.
This is a low Loan Down Payment Loan and there is NO Mortgage Insurance!
Income Limits as of March 2013:
St Mary's County - $81,040.00 Calvert County - $85,840.00
Contact Roseann Kraese Lic. #798721 - Home MoRtgage Consultant - 240-577-3634
Take this article with you and ask her all your questions.
Now You need a Buyer's Agent to show you Houses For Sale.
I am MARGARET C. Century 21 New Millennium REALTOR®
CALL or TEXT 301 481 8407 for a FREE Consultation
I am qualified to help YOU buy your next home and help you negotiate Sales Price and Closing Help.
CALL or TEXT 301 481 8407 for a FREE Consultation
NO AND LOW DOWN PAYMENT MORTGAGE LOANS ST MARY'S AND CALVERT COUNTY MD Written by Margaret C. Taylor REALTOR® sharing information in Calvert and St Mary's MD.
This blog is for informational purposes only and is not intended as legal or tax advice. An Attorney, CPA or Mortgage specialist should be consulted for specific needs.
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