100% financing for a home mortgage? Can this be real? Yes it is!! The property must be in USDA eligible territory and you must meet the maximum income restrictions per number of people in the household. The rates are lower than your conventional programs, the monthly funding fee (what USDA calls their mortgage insurance) is lower than conventional programs or FHA. You can get up to a 6% of the sales price for sellers concession to help with your closing costs. Below is a snippet to show you an idea of USDA eligible area in Bucks county and surrounding. The area not in the orangish color is eligible area. The orange is not eligible.Contact me with any questions or further details. Let us help YOU become a homeowner.
This blog is meant to help educate consumers on the home buying or refinancing process so they can go into their transactions with confidence and knowledge. Do you have a question that you want answered? A topic that you would like to see covered? Email me at jstottlar@monumentbankpa.com with "Blog Topic" as the subject line.
Tuesday, January 27, 2015
100% financing! Say what?
100% financing for a home mortgage? Can this be real? Yes it is!! The property must be in USDA eligible territory and you must meet the maximum income restrictions per number of people in the household. The rates are lower than your conventional programs, the monthly funding fee (what USDA calls their mortgage insurance) is lower than conventional programs or FHA. You can get up to a 6% of the sales price for sellers concession to help with your closing costs. Below is a snippet to show you an idea of USDA eligible area in Bucks county and surrounding. The area not in the orangish color is eligible area. The orange is not eligible.Contact me with any questions or further details. Let us help YOU become a homeowner.
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