Advantages of the 100% Financing Guaranteed Rural Housing Loan Program - Buy with No Money Down

By
Mortgage and Lending with Premier Servicing Company, LLC

Guaranteed Rural Housing Loan - SIMPLY THE BEST!

Rural Development - Committed to the future of rural communitiesThe 100% Financing USDA Rural Development Guaranteed No Down-Payment Loan Program is one of the best programs available to borrowers looking for homes in today's market (I specialize in the Armstrong County, Kittanning and Ford City areas).  Why, you may ask?  Let me go over a few of the highlights of this wonderful little gem!

 

 

 Highlights of the Rural Housing Loan Program

  • 100% Financing (no down payment required) - buyers are not required to put any of their own money into the deal
  • No Mortgage Insurance (there is a one time 2% Guarantee Fee paid to Rural Housing that eliminate mortgage insurance).  This fee can be financed into the loan.
  • No Prepayment Penalty on a 30 year fixed mortgage at rates better than those on conforming loans
  • Loan amount is based on the appraised value, not the sales price.
  • No Minimum Credit Score Required - this programs allows for non-traditional credit, offers common sense underwriting and an automatic approval if credit is 620 or higher
  • Borrowers are not required to have cash reserves and there is no minimum cash contribution by the borrowers

Does the house I'm buying or selling qualify for the Rural Housing Loan?

Most properties in Pennsylvania qualify for this program.  Don't assume anything!  A HOME DOESN'T NECESSARILY HAVE TO BE IN THE COUNTRY!

Image of Armstrong CountyI specialize in Armstrong County (Kittanning, Ford City, Elderton, East Brady, Worthington, Rural Valley and Templeton).  Every single property located with in the Armstrong County lines is eligible for this loan. 

Click here to find out if the property you're buying or selling qualifies. 

 

 Am I or my buyer eligible for the Rural Housing Loan?

When considering income in this program, ALL income of the applicant, co-applicant and adult members (those over 18) must be taken into consideration.  Again, don't assume anything!  There are adjustments that can be taken into consideration.  They are as follows:

Household Member Deduction Amount
Each minor child under 18 years of age $480
Each disabled or handicapped individual who isn't the applicant or co-applicant $480
Each full time student 18 years or older $480
Each elderly (62 years or older) or disabled applicant  $400
Child care expenses for children 12 years or under Actual cost of care, supported by full documentation

Click here to see if your income or your buyer's income qualifies.

To learn 10 FREE Ways to Improve Your Credit Score and Raise Your Fico STARTING TODAY - click here.

If you find that your or your buyer or the property you are buying or selling are not eligible for the Rural Housing 100% financing - no down payment loan program, don't dispair.  There are many other low to no money down programs available. 

To apply on-line, please click here to link to the New Stanton 1st Metropolitan Mortgage Website.

 Please contact me directly 724-783-7180 or jkladny@hotmail.com for more information on this or any other programs available.  Thanks!  JENNIFER KLADNY - Loan Officer for 1st Metropolitan Mortgage, 151 East Pennsylvania Avenue New Stanton, PA  15672

Licensed by the Department of Corporation under the California Residential Mortgage Lending Act.  Licensed by the Pennsylvania Department of Banking.

Comments (7)

Peter Nikic
Broad & Bailey Realty LLC - Valhalla, NY
very nice Jennifer. clean, easy to read, all the links work, nice spacing. great job!
Apr 22, 2008 12:16 PM
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA
Thanks Peter!  I appreciate you taking the time read over it and check the links!
Apr 22, 2008 09:50 PM
Anonymous
lyn

hi jennifer nice site. just heard about this and i think its great do you have any listings of houses available for sale? i have a house for sale in cambridge springs pa by owner. thanks.

May 21, 2008 08:10 PM
#3
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Hi Lyn!  I hope you check back here.  I don't have any contact info to get in touch with you. 

If you can give me a call at 724-783-7180, if think I can help you!  JENNIFER

May 22, 2008 01:57 AM
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Hi Lyn!  I hope you check back here.  I don't have any contact info to get in touch with you. 

If you can give me a call at 724-783-7180, if think I can help you!  JENNIFER

May 22, 2008 01:58 AM
Henry J. Daniels - Sr Loan Officer
Henry J Daniels (936) 228-1944 - The Woodlands, TX
Nationwide Construction, Rehab,Conv & VA/FHA/USDA

Don't forget VA loans.  They will also lend in rural areas up to 10 acres and do not have the income limitations

Jun 17, 2008 06:03 PM
Jennifer Kladny
Premier Servicing Company, LLC - Kittanning, PA

Yes, sometimes the income limitations can be a bummer!  It is great there are other programs out there to fill that void!  JENNIFER

Jul 05, 2008 06:31 AM