USDA Benefits

The USDA Loans are a great option for *Qualified* buyers.  It’s one of the only loans were you have the ability to get into a home with little to nothing out of pocket.   The USDA loan is a 30 year fixed rate loan with no payoff penalties and great rates.  It makes a perfect fit for anyone who has a 640 or higher credit score and acceptable income.   You will need to make sure you have been at your current job for a minimum of 12 months or have a full 2 year work history with no job gaps in order to have the underwriter accept your income.   Self-employed buyers are also welcome when it comes to USDA Loans,  if you are self-employed all we will require is a full two years of filled tax returns to give you credit for consistent income over the two year average.    I would recommend the USDA loan to anyone looking to buy a home unless you are looking for an investment property as the USDA will not finance those types of dwellings.   If you are looking to buy a home and plan on living in that home within 60 days after you close than give me a call today to see how much you can qualify for.  We pride our self’s on  getting you into your dream house with as little to nothing as possible!

USDA is Not a Grant!

USDA makes it easy to purchase a home!!  Great product for the first time home buyer and even more appreciated by the experienced home buyer.  No down payment and very little money out of pocket.  Out of pocket items may or may not include… Earnest Money, Inspections, and appraisal.  Earnest money is a deposit you put on the purchase contract and is negotiate with the purchase price.  Inspections are always recommended but almost never needed for the financing.  The inspections can help you with a little knowledge of future repairs you may want to expect.  The Appraisal is the cost that you should be sure to put aside.  The appraisal is required for financing and must be paid for before the appraiser does the job : )

 

USDA is not some crazy grant, gift, giveaway, or any other program that comes with all kinds of strings attached.  Nope, cut all that out!!  No 2nd liens.  Nothing that stops you from selling your home or paying off the your home or refinancing you home as quick as you want.  Nothing that stops you from doing with your home as you please.  USDA is the traditional 30 year fixed rate mortgage with no funny business.  It’s your home to do with as you so please!!

 

USDA simply insures the mortgage.  This government insurance enables 100% financing with an extremely low fixed rate!!  Yes, you do pay for the insurance however it is at a reduced rate… something like half the cost of the other typical loan product requiring less then 20% down : )

Move in Ready

The USDA Loans are eligible for only those homes that are safe and move in ready.

As far as move in ready, we have an easy rule; if it is supposed to be there, it needs to be there. If there is supposed to be a ceiling fan, however, there are exposed wires and they are using a floor lamp instead, this would not be safe nor would it be move in ready. Now, if there is a lamp only, and no ceiling fan or other light fixture you are OK to proceed.

Same applies to cabinets. If there were never cabinets there to begin with it would not be required that they be there. However, if they were there originally and now are not, they would have to be there before closing.

There are some circumstances that would be considered not safe and not move in ready however, should not necessarily stop your interest in the home. Keep in mind, all of these can be treated or remediated:

  • Mold
  • Termites
  • Faulty electrical / plumbing
  • Foundation / roof issues

Also, just because something is out of date, doesn’t mean that it isn’t move in ready. Just because the kitchen is out of date it is still move in ready (no matter what your wife says about it J ).  As long as everything is there and works, you should still be good to go.

 

Let’s say the dream home you have in mind does have an issue with fixtures missing, holes in walls or floor, whatever it may be, it does not mean you should give up on it. Instead, talk with the sellers and see if you can get them to fix it.

 

I am sure they, as well as you, will recognized the importance of getting it fixed.

Shopping for a home stressing you out? Confused on where to begin? Well look no further.

With CREFCO and their experiences staff you will have no worry in your home buying process.

 

Well where do I start you might ask….

 

That’s easy, all you need to do I apply online and one of CREFCO’ s licensed Loan Officer will be in contact you within 24hrs to review all the potential options that you have.

 

What is my credit is not good?

 

Not a problem!! Just because your credit is not perfect doesn’t mean you can get a usda loan. Your Loan Officer will explore all the options to get you where you need to be to get into your dream home.

 

Once approved you will be handled and educated with the utmost care from one of CREFCO’s Loan Auditors. You Loan Auditor will be by your side until you have the keys to your new home in the palm of your hand.

 

There is one thing about purchasing a home that affects everyone, anxiety. You can rest assured that CREFCO will make you their priority number one. You can just kiss that anxiety goodbye and welcome in the happy and exciting memories of purchasing a home.

 

Trust me; you would be losing out on an experience of a life time if you don’t select CREFCO for all your home financing needs.