Here's a great alternative financing option to conventional lending....it's the USDA Rural Housing Program.
FACT: 30 Year Fixed Term
FACT: No Mortgage Insurance(Guarantee Fee of 2% required up-front & can be financed)
FACT: No Payment Reserve Requirements
FACT: No Down-Payment(Program allows 102% Loan-to-Value based upon HIGHER of Appraised Value or Purchase Price)
FACT: No Maximum Seller Concessions (If greater than 6%, comment from appraiser required)
FACT: 100% Gifting permitted. Donor must be disinterested third party
FACT: No Minimum Credit Score requirement
FACT: No First-time Home buyer requirement
FACT: Income Limits apply (Based upon Family size, until 1/20/2009)
To find out it you and your chosen property qualify, contact me or checkout the USDA website.
Happy Home Searching!
www.connectrealtyhomesales.com
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2012 ActiveRain Corp. All Rights Reserved