Here’s a map from USDA showing where you can have a 100% loan, and where you can’t use USDA financing. The shaded area in the top right portion of the map does NOT qualify… the rest of it definately does!
This is great news for folks who are looking for homes with very low PMI, and rates that are every bit as low as FHA! The maximum income in Wake County for a one to four member household /family is $91,850. For households with five people or higher, the limit is $121,250
These are fairly straightforward loans, they allow for gifts to cover closing costs, or the seller can pay them.
The buyer can not CURRENTLY own a home that is within commuting distance of the new property. So if you owned a home in Ohio, for instance, that would not sell right now, and you rent that property, and move here – YOU CAN GET 100% FINANCING!
To find out more about qualifying for a USDA Home Loan, please click here!
If this is your first home, or you have not owned a home in the last 3 years, you might also qualify for the Government’s $8000 grant! For more information on NC Housing Grant Program, click here!
We would love to answer any questions you might have about mortgages in Holly Springs! Mortgage rates are low, and now is the time to buy! Remember, this part of NC might LOSE the USDA Home Loan program in March of 2013! Have questions? Call Steve and Eleanor Thorne, 919 649 5058
Originally Posted at NCFHAExpert.com
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