Lubbock, TX 100% Financing on USDA Loans

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Mortgage and Lending NMLS # 243437

100% financing with Lubbock TX USDA Loans, Euless, Texas area 100% financing USDA home loans. 

 100% financing on USDA mortgage loans are available for home purchasing in Lubbock, Texas

 A 0% down payment option for home buyers looking to purchase a home in Lubbock , Texas is available. 

 A significance to home buyers is the ability for them to keep their cash reserves rather than spend it on a down payment for a new home. 

 The government has a special USDA loan  program that will assist home buyers with this.

 

 

 An important part to home buyer success is the post closing cash reserves they will receive.

 

 

 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.  

 

 A lot of home buyers probably buy new furniture or draperies to go along with their new home purchase. 

 We want to put together a purchase structure that requires you to pay little to no money out of your pocket. 

 Read below for information on USDA loans in Lubbock, Texas: The interest rates in today's market are surprisingly still competitive with FHA and Conventional Loans.

 

 

 

 Each year about .30% in loan amounts is taken out due to small monthly mortgage insurance payments that have 100% financing on LubbockTX USDA Loans

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

 Low MI (Mortgage Insurance rates are available with FHA and Conventional Loans so that you save your money!

 

 

 

 In order for you to qualify for a USDA mortgage loan your home must be in a USDA eligible area that is defined by Congress.

 

 

 Most of the State of Texas is eligible for a USDA loan program although not every city is. Most of the city of Lubbock, TX  is eligible for a USDA loan. 

 You can determine if your home is in an eligible area by visiting: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property%4011 and typing in your address in the search bar. 

 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.

 

 

 Calculate the qualify income of you family by using a series of credits that are awarded to child care and dependents under 18.

 

 http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state&NavKey=income%4011. This is the USDA home loans website that you need to use to do the calculations to see if your family is eligible.  The number of people in your family can be used to determine if your family meets the eligibility requirements. It is absolutely essential that you hire a lender that can assist you and your family with this process. 

 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. 

 

 A contract is used by sellers to help you cover your closing costs along with the process of setting up your escrow, title policies, future accounts, and insurance policies. 

 Provisions for possible purchase of new appliances do exist, so it is important to choose a lender that can process, underwrite and close in house your USDA 100% financing loan in Lubbock, Texas and surrounding areas. 

 

 Contact Joy Bates, Senior Loan Officer of the Legacy Mortgage Team, at 817-860-3232, visit: http://legacyfinancial.com, or email Joy: 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

817-860-3232

Email Us 

Google+

1205 West Abram St. 

Arlington, TX 76013

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