USDA Home Loan Credit Qualifications in NC

Good News!  You do NOT need perfect credit to qualify for a USDA Home Loan!  Whew!  This 100% no money down program requires a MINIMUM credit score of 600 - but folks, just because you have a 600 score, doesn't mean you can purchase. These days - we normally need a score above 640 to get the loan approved by Underwriters... unless you qualify for … [Read more...]

USDA Home Loan PMI Will Change 10/1/11

If you are looking for a USDA Home Loan in North Carolina - you might want to do it before the end of September!  More Rule Changes! Okay, so you don't HAVE to buy before October 1st.  It's not like the 100% no money down program is going away - it's just changing the way the PMI (which they call Guarantee Fee) is being charged.  Starting at the … [Read more...]

USDA Rural Development Switching Underwriters

USDA Rural Development Single Family Housing announced some consolidation and changes regarding WHERE files are going to be processed. No matter who originates a USDA home loan, it is re-underwritten (or processed) through a local USDA office. In the past, loans for Wake County went to Wake, Johnston County went to Sanford and Franklin County went … [Read more...]