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Rural Mortgage Home Loans |
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Rural mortgage home loans are dedicated to the preservation of rural communities. This program is administered through the US Department of Agriculture, features 102% financing for qualified moderate income familes looking to buy single family homes.
- Zero down payment required
- Average cash to close in Arizona is $158.70
- Declining markets are not a factor
- There is not currently a minimum credit score
- No monthly mortgage insurance makes this loan the cheapest loan available to the public
- May be used for construction or repairs on property being purchased
QUALIFYING AREAS
Tucson - North of Tangerine and South of Valencia are generally qualifing areas. Rancho Vistoso is a qualifying area.
Phoenix - Queen Cree, San Tan, Komatke, Waddell, Wittmann, Rio Verde and Fort McDowell are all qualifying rural areas.
To determine if a property you are interested in qualifies for the rural home mortgage loan program, send an email to
This e-mail address is being protected from spambots, you need JavaScript enabled to view it
with RURAL in the subject line.
Click here for FREE pre-approval for a guaranteed rural home loan. |
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FHA Mortgage Loans - Getting Them Done |
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FHA Mortgage Loans are generally the most attractive loan options on the market in today's Real Estate environment.
FHA Mortgage Loans have gained popularity among the First Time Home Buyer niche. Specifically due to the fact that:
- FHA Mortgage Loans are generally easier to qualify for than conventional loans
- Prior credit problems can be explained in a credit explanation letter to the underwriter
- Lower down payment requirements - 3% is standard, zero can be obtained with a down payment assistance program
- Lower monthly mortgage insurance payments than conventional financing
Click here to get a FREE pre-approval for an FHA mortgage loan. |
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The federally insured mortgage program provided by HUD normally referred to as FHA has been around for a long time. When I first got into the mortgage business FHA was by and far the number one mortgage program. At the time there were no stated income programs, no option ARM programs, there was no 100% financing, it was a very vanilla time. Conventional mortgages, those offered through FannieMae and FreddieMac just were not big, they were used primarily for move up buyers who had at least 20 percent to put down on a home.
Then around 2002 FHA disappeared off the face of the mortgage world, FHA went from representing nearly 60% of all mortgage origination to 3%, nearly nothing. |
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