100% USDA financing in the Lucas, TX area l Lucas Texas USDA Loans

Mortgage and Lending with CrossCountry Mortgage NMLS # 243437

Lubbock USDA mortgage loan financing, 100% USDA financing in the Lucas, TX area

 100% financing on USDA mortgage loans are available for home purchasing in Lucas, TX. 

 A no down payment option program is available to home buyers in Lucas seeking to purchase a new home. 

 Home buyers can keep their cash reserves in their pocket instead of having to use it on a home down payment. 

 Home buyers are afforded with a unique USDA home loan government program that can assist them. 

 Home buyers success is greatly influenced by the post closing cash reserves that are available.



 It would be a great benefit to  a home owner to have at least 6 months of reserves such as hot water heaters, air conditioning and heating units, a washer and dryer, among other appliances like a stove, oven and disposals on hand in case an emergency happens.  


 Later, home owners may want to make a purchase or purchases for new furniture or maybe even a draperies and new window treatments like blinds when buying their new home. 

 The ideal goal for us to is structure together a purchase for you that results in having to pay no cash out of your own pocket. 

 Get more information below about 100% home loan financing on Lucas USDA loans: FHA and Conventional loans are still very competitive with USDA loans.





 100% USDA financing is available with small monthly mortgage insurance of just about .30% in loan amounts each year. 

 As a result, the 2 benefits to a USDA loan are: 1. 100% financing with a no down payment option on your USDA loans is available to you and 2. The Lucas, Texas area is eligible for a 30 year fixed interest rate on USDA mortgage loans. 

 Use very low Mortgage Insurance to save a lot of your money when compared to Conventional and FHA loans.


 If you would like to know if you know does qualify, than it must be in a USDA eligible area that Congress defines.



 Most of the State of Texas is eligible for a USDA loan program although not every city is. In Lucas, most of the surrounding areas do qualify for a 100% financing USDA loan.



 Visit: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property%4011 to find out if you are in a qualifying area.



 If, after you have visited the USDA Loans eligibility website and it is determined that your home meets the proper requirements, than you use a USDA mortgage loan to purchase that home.



 Use a number of credit that are afforded to child care and dependents under the age of 18 to calculate your family's "qualifying income." Please be aware there are income restrictions. 

 To determine your family's qualifying income, use the Income Calculator on the USDA site: http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income%4011. Most families qualify after doing the formula that is based on the number of people in your family.


 Choose a lender that can provide you with the knowledge of USDA home loans for your family. 

 Don't choose a mortgage broker to do your USDA loan approval because delays in your loan approval may happen. Use a mortgage banker to prevent this. Next, you definitely want to choose a mortgage lender that has the expertise in USDA loans and what comes with it because the overall structure of your home buying contract can save you thousands of dollars at your closing. 


 Sellers can use a contract to assist them with their buyer or seller contribution, which ultimately covers closing costs that involve setting up escrow, title policies and accounts for future taxes and insurance. It also can be used for the seller to purchase their insurance policy. 

 You need to use an established lender who provides in house underwriting, processing and closing of your Southlake USDA 100% financing mortgage loan. Be aware of some provisions for purchasing of appliances. 


 Contact Joy Bates, Senior Loan Officer of the Legacy Mortgage Team, at 817-860-3232, http://legacyfinancial.com, or joybates@leader1.com for more information on your USDA mortgage loan. 


Posted by

The Legacy Group of CrossCountry Mortgage

Chad and Joy Bates NMLS #243437


1205 West Abram St. 

Arlington, TX 76013

Comments (0)