one of the true no down payment programs out there.
If the home appraisal allows, the closing costs can also be wrapped into the mortgage resulting in no money needed at the closing table. Interest rates for USDA mortgages are comparable to the low fixed rates of Conventional and FHA/VA financing.
Find out if you qualify by looking at the link below -- or better yet, Call me and let's see!
Many homes that are considered part of these areas still qualify. The USDA zoning map can be found here...
http://eligibility.sc.egov.usda.gov/eligibility/eligibilityAction.do
Benefits of a USDA Rural Development loan include:
- True 100% no money down financing.
- The ability to finance in your closing costs (if the appraised value supports the loan amt)
- The seller may contribute up to 6% of the purchase price towards your closing costs
- No Mortgage Insurance
- Low interest rates.
- More flexible qualifying guidelines with minimum 620 credit score
USDA mortgages do have income restrictions so click here to check on those...
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=pageLoad&requestInfo=GuaranteedIncomeLimits&NavKey=incomelimit@12
Courtesy of Lisa Bear RE/MAX Realty Center
262-893-5555 Office/Cell
888-893-5534 Direct Fax
Proudly Serving Southcentral and Southeastern Wisconsin with Referrals from my Clients
Look for properties across Wisconsin on MLS at http://www.lisabear.com
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If you or anyone you know is looking to buy or sell.... I'd love the REFERRAL!!
"HELPING YOU MOVE IN THE RIGHT DIRECTION"
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