This is probably the most aggressive program for buying a
home in the US! FHA does not require a credit score nor do they necessarily
require good credit. As long as you have no outstanding collections,
charge-offs, judgments, liens, or they will all be paid at or before closing,
then you can get into a new home with little out of pocket expenses. Someone in
a Chapter 13 Bankruptcy can buy a new home with an FHA loan! The advantages of
an FHA loan are:
·Low Down Payment
·Low Monthly Mortgage Insurance Premium
·Excellent Interest Rates for people with Impaired Credit
In order to begin the home buying process using the FHA Loan, you MUST speak
with me FIRST before making an offer on a house.
VA
The VA Home Loan Program is, in my biased opinion, the cream of the crop home
loan program out there. It allows a qualified Veteran to buy a home with No Down
Payment, No Monthly Mortgage Insurance, and allows the seller to pay all of the
closing costs! The VA Funding Fee can be financed with the loan allowing for a
loan amount higher than the purchase price of the home.
In order to begin this process, you MUST speak
with me FIRST.
USDA/ RHS
USDA / Rural Housing Service loans are designed specifically for buying a
home in a rural area. These programs originated years ago in an effort by the
government to promote community growth in rural areas which in turn would add to
the infrastructure of our nation making it easier to bring agricultural products
to the marketplace. These loans offer a subsidy monthly payment option in order
to help low income borrowers make their mortgage payments and have enough to
live on.With these loan programs, a homebuyer can purchase a home
with no down payment, low credit requirements, and low interest rates.
Properties zoned agricultural, working farms, or just a modest home and some
land are eligible for these loans.
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