With the markets approaching a bottom and rates at record lows, those not trying to time the market for quick profits should consider buying instead of renting.  This month I want to show you a program insured by the U.S. Government that allows for zero down and all closing costs to be rolled into your loan.  In addition, we can loan you up to $10,000 for repairs on the home.  This now opens the possibility of you buying a foreclosed property and being able to fix up with nothing out of pocket.  This maximizes potential return on your investment since these types of homes are considerably under priced.  Below are some highlights to an old program that has recently become more and more popular:

• 102% Financing based on appraised value, if appraised value exceeds sales price, borrower can finance closing costs!
• No monthly mortgage insurance, 1-time guarantee fee of 2% that is rolled in the loan.
• No asset requirements.
• No first time homebuyer restrictions.
• No minimum cash contribution from borrower.
• 6% seller concessions and 100% gifting is allowed - Your can purchase a home with no money in the transaction.

So who qualifies for this aggressive program?  Below are some key requirements for eligibility:

1. Borrower(s) must be a U.S. citizen, a U.S. non-citizen national or a qualified alien and have an adjusted household income that is within Rural Development guidelines based on the number of persons who will occupy the home.  

2.  Property must be a primary residence and have min. FICO of 580.

3.  Property must be located in an eligible area:      http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

If you appear to be eligible for this program or have additional questions, call one of our mortgage specialists today!

800-298-4520