You would be surprised but there are many realtors out there that are unaware of the USDA program.
If you are looking for a home in the outter suburbs or in a rural area make sure your realtor knows about this great 100% financing program.
Here are some quick bullit points on the USDA program…
Up to 100% of the Appraised Value – Total LTV of 102% -
No Down Payment Required
No Cash Reserve Requirement. No cash contribution requirement
Unlimited seller concessions
Unrestricted gifts, not necessary to document source, no seasoning
First time home buyers allowed, but not limited to first time home buyers
Completed Short Sales are NOT regarded as a foreclosure or negative credit. We will need a clear CAIVRS and an adequate letter of explanation
Collections over 1 year may not need to be paid (cannot be a pattern and depends upon credit score).
Non-traditional credit may substitute for lack of credit history
Repair Escrow financed in loan up to $10,000 or 10% of loan
If you have more questions about getting qualified for this program just shoot me an email or give me a call.
Have a good day today! …and thanks for reading.
Brett
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