As of Monday June 4th we had a significant improvement to our eligible areas in Ocean County NJ. While we did lose some area on Long Beach Island, the gain we have closely matches the maps we had a few years ago with Bayville (West of Route 9) now being eligible along with Holiday City Berkley. Why is this exciting news? It is GREAT news because buyers can now buy in the eligible areas of Bayville with $0 Down and no mortgage insurance, just a low Guarantee fee. To put it in perspective- On a $250,000 loan a buyer will save $104/month VS an FHA loan that would require 3.5% down. USDA has income restrictions along with Geographical Restrictions, but it is one of the best ways to get into a home with little to no money down. Have a great week!Robert Rauf Mortgage Loan Originator NMLS#...
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