Chris Benson - Queen Creek Broker - Estate Realty & Management - Resident Specialist
Have you ever wondered about getting a USDA Loan??? It's the PERFECT CHOICE for Queen Creek & San Tan Valley. We Specialize in Helping Buyers find their Dream Home in Queen Creek.
Please contact Chris Benson for more information about the Home Buying Process using a USDA Loan - We can HELP YOU get into your Dream home with 100% Financing!!!!!!!!!!
USDA Rural Development Single Family Housing Guaranteed Loan Program
Guaranteed Loans Offer Affordable Financing To Rural Homebuyers.
The mission of USDA Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low to moderate income rural homebuyers achieve their dream of homeownership!
Rural Development partners with approved local lenders to extend 100% financing opportunities to eligible rural individuals and families for the purchase of safe and sanitary dwellings. Guaranteed loans have assisted thousands of homeowners to purchase a home with affordable interest rates and loan terms.
Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located. Additional Guaranteed Loan Features include but are not limited to:
- 100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included.
- Guarantee Fee applies: may be rolled into the loan amount.
- Flexible credit guidelines. Non-traditional credit histories may be accepted.
- Fixed 30 year interest rates apply. Lenders and applicants agree upon interest rate.
- Qualifying ratios are 29% for housing costs and 41% for total debt. Lenders may request an exception to exceed these ratios when strong compensating factors are identified.
- No maximum purchase price. Qualifying ratios and the applicant’s stable and dependable income will determine home affordability.
- Eligible property types include existing homes, new construction, modular homes, Planned Unit Developments (PUD’s), eligible condominiums and new manufactured homes.
- Eligible closing costs and lender fees may be included in the loan or paid by the applicant.
- Gift/Grant Funds/Mortgage Credit Certificates (MCC’s)/Seller Concessions are allowed.
- Eligible repairs and improvements may be included in the loan.
- Applicants apply with an approved lender of their choice.
- Not limited to first time homebuyers.
Chris Benson - Queen Creek Real Estate Broker & Resident - Neighborhood Specialist -
480-225-7188 Cell
Email: bensonrealestate@gmail.com
