USDA Student Loan Updates

USDA has long seen the benefit of a College Degree - and in fact USDA Home Loan Underwriters will use Higher Education as a "compensating factor" when a family is close on the debt ratios!  Unlike FHA and VA home loan underwriting, though, the no money down home loan programs offered through USDA COUNT deferred Student loans IN the total debt … [Read more...]

USDA No Money Down Mortgage

We've helped many customers buy homes with an old program offered through the USDA... not to buy farms... HOMES. The Rurual Economic Development Fund is what it use to be called, now it's just a part of the USDA RD Home Loan Program, and the goal is to provide mortgages, and incentives for folks to purchase homes in less "densly" populated … [Read more...]

USDA Guarantee Fee Update 8/23/2010

The Single Family Housing Origination Department of the USDA Home Loan Program announced yesterday that they should have their computer systems up and running to accommodate the changes required by Congress in their fees. Since the end of May, USDA has been issuing "Conditional" approvals... and because of that, Wells Fargo, Bank of America (and … [Read more...]

USDA Rural Development Home Loans

Thinking about buying a home so you can get that Tax Credit? Don't have a ton of CASH laying around??  Well, the first thing you should do is call Steve Thorne to see where properties are in your area that qualify for USDA Rural Development Home Loans!  Steve is a USDA Rural Housing Mortgage Expert, and he can research your property and determine … [Read more...]

Credit Scores and First Time Home Buyers!

How Credit Scores are calculated is changing, and the minimum scores required for mortgage loans are going HIGHER!   It's important to know that Trans Union began making changes to the way they calculate credit scores, and if you don't change your credit strategy - you might not be able to purchase! If you are using VA Benefits, you need a … [Read more...]

USDA Home Loans Could Be Getting More Expensive

4/20/10 - As we've mentioned (a couple of times) USDA Single Family Rural Development Home Loan Program is running out of money... WHEN that magic date is - we don't know... But we know it's coming in the next few weeks. The Hombuilder's Association of America is in Washington this week to discuss (read they are begging Congress) ways to get more … [Read more...]

Best info On No Money Down Mortgages in NC

With the problems of lower values in Real Estate across the country - we talk to folks daily who left a home in some other area, came to North Carolina for a job.... and now want to buy a house.  The only problem for these folks is typically one of CASH for the down payment!  There are two great programs available for no money down home loans, 100% … [Read more...]

USDA Home Loans, When Do You Need An Inspection

USDA, Rurual Development recently issued an announcement clarifying when they need all of the new construction documents for homes... and when they don't. If the home is less than 1 year old and has never been occupied, the home is considered a new home purchase.  New home purchases are subject to plan certification, specifications, inspections and … [Read more...]

Can You Qualify For A Mortgage If You are Not Married??

If you found this post, you have a very specific question, and the very SHORT answer, is PROBABLY. Exactly what type of mortgage you get, is a slightly more detailed answer! VA LOANS:  VA says that if you are going to purchase with another person they will recognize legally married spouses of qualified veterans as co-signors on VA loans.  … [Read more...]

Johnston County Qualifies for USDA Home Loans

In many NC Counties, you have to check the USDA website to make certain that the property you want to purchase is located within the USDA "footprint."  But if you are buying in Johnston County - you're safe!  The WHOLE COUNTY qualifies for USDA 100% No Money Down Home Loans. Now all you have to check is your income - to be certain you are not OVER … [Read more...]