Posted by Rick Goates on Wed, Mar 18, 2009 @ 12:21 PM
USDA...I hear that term and I think of a nice juicy steak. But no...it's not a steak...It's a loan program...a program that may just work for you if you are looking for a home outside the city of Redding and need 100% financing.
The details of this program are below-
- 100%
financing
- NO
Mortgage Insurance!
- Can finance closing
costs into the loan
- Can
finance repairs into the loan as a escrow
holdback
- Unlimited seller
concessions
- Income limits apply,
but very liberal limits. In April USDA is changing the limits for a family size
1-4 in the household to $70,400.
- Appraiser signs off on
all inspections with the exception of the well
- Rates similar to FHA,
but better for borrower because there is no mortgage insurance required so the
payment is lower
- Very flexible
guidelines
- Property must not have
an in-ground swimming pool and be located outside of the City of Redding limits
(there are some properties that do qualify in the City of Redding limits, call
with address)
- We work with a "Direct" lender on this program so let's get you set up with an appt today to see how he can assist you!
- Call today Rick or Christine 248-5627