USDA Insured Home Loans with Zero Down Payment

December 12th, 2011 • Related • Filed Under

USDA insured home loan key points:
 
·         100% loan to value, no down payment required!
·         Unlimited seller assist – payment towards buyer’s closing costs
·         Finance closing costs up to the appraised value of the home
·         30-year fixed rate, no balloons, no prepayment penalties, no recapture fess, etc.
·         Current interest rate:  6.50%  (8-29-08, subject to change, borrowers must qualify)
·         FHA type home condition requirements, insulation standards no longer apply!
·         No limit on loan size up to $417,000
·         No monthly mortgage insurance premium!
·         Flexible credit underwriting, income must be verified and qualify
·         not restricted to first time buyers – anyone who needs a home!
 
Property restrictions:  For sale single family, owner occupied homes, no manufactured homes, twins/duplexes and row homes are permitted
 
Geographic Restrictions:  For towns with populations under 10,000, no flood plains
Eligibility website:  http://eligibility.sc.egov.usda.gov
 
Income Restrictions:  based on family size, family care expenses and county

Call the mortgage line, Dan Thierry at Dominion Mortgage at 610-614-1903 or visit www.dominionrates.com.

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