USDA CHANGES

USDA CHANGES

The long awaited USDA eligibility area updates are now available at: http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do The screen will look like this: You will want to click on the “Future Eligible Areas” , “accept” and then enter the address in question to see if … Continue reading

USDA ALLOWED STRUCTURES

The single family housing guaranteed loan program referenced as “USDA”, has certain property restrictions that are often a surprise to the average Borrower planning on financing their home with a USDA loan.  With a fundamental objective to “finance a residence … Continue reading

FIRST TIME HOMEBUYERS THIS ….. THIS ONE’S FOR YOU!

WASHINGTON STATE HOUSING FINANCE COMMISSIONHOMEOWNERSHIP PROGRAMS The WA State Housing Aurthority has announed it’s new House Key Opportunity program effective August 15, 2012 with interest rates for 1st time homebuyers as follows: FHA, VA & USDA Rural Development Loans: 2.5% with a 1% Origination fee … Continue reading

EVER WONDERED HOW LONG YOU MUST WAIT TO OBTAIN A NEW MORTGAGE?

If you’ve filed bankruptcy, gone through a short sale or had a home foreclosed, the following timelines broken down by loan program will give you a snap shot of how long it may take before you are eligible to obtain a mortgage. CONVENTIONAL … Continue reading

HOW MUCH DOWN PAYMENT REALLY IS REQUIRED TO BUY A HOME?

In a recent, unscientific study done by a Loan Officer in the Pacific Northwest, a significant percentage of those polled believed that they could not obtain a mortgage with less than a 20% down payment.  In reality, Borrowers have the following options available to them: VA LOANS continue to … Continue reading