All articles in Down Payment Assistance Grants

How to get a No Money Down USDA mortgage loan in Raleigh

 

Logo of the USDA Rural Development office, par...
Logo of the USDA Rural Development office, part of the Department of Agriculture. (Photo credit: Wikipedia)

 


What is a USDA Rural Development Loan?

Section 502 loans are primarily used to help low to moderate income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

In Wake County North Carolina most areas outside city limits are eligible for financing and the 2013 income limits for a household of 4 is $91,850! Continue reading How to get a No Money Down USDA mortgage loan in Raleigh

$14 Billion in No Money Down Guaranteed Loans for Rural Homebuyers

Contents Related articles USDA RURAL DEVELOPMENT GUARANTEED RURAL HOUSING NEWS From the National Office in Washington DC June 15, 2011 … More $14 Billion in No Money Down Guaranteed Loans for Rural Homebuyers

$24 BILLION DOLLARS ALLOCATED FOR GUARANTEED LOANS!

The USDA is begging for people to borrow their money! The program will be undergoing significant changes in … More $24 BILLION DOLLARS ALLOCATED FOR GUARANTEED LOANS!

FAQ – What is the FHA Gift Funds Section 1010 Verbiage

FHA Underwriting Tip;

FHA allows a borrower to meet the minimum statutory investment by using gift funds from either a close family member, government agency or approved non profit.
FHA requires that all gift letters include the section 1010 verbiage below –

Five Great Reasons to Buy a Home today

Why You Should Start Planning To Purchase A Home If you’ve ever thought about buying a home, but decided … More Five Great Reasons to Buy a Home today

FAQ – First Time Home Buyer definition

a first-time home buyer is defined as someone who has not owned a primary residence in the three-year period ending on the date of purchasing the home. Married couples are considered first-time buyers if neither spouse has owned a residence in the previous three years.”