USDA

Affordable Housing Program Zero Down

USDA Make the Dream of Home Ownership come true!

We are a delegated USDA lender we process, underwrite and Fund In-House

USDA offers some Special Features

• Zero Down

• No Monthly Mortgage Insurance keeps payment low

• No First Time Homebuyer restrictions

• Great Interest Rates

• Up to 6% sell concessions

• 100% gifting permitted for all closing cost

• No reserve requirements

• No 90 Day Flip rule

• USDA has a very unique feature: It allows you to finance the full purchase and closing cost to 103.5% of the appraised value. Example if you purchase a home for $100.000.00 and the appraisal is $105,000.00. Calculate the loan based on the $105,000.00 + the 3.5% Guarantee Fee and use the $5,000.00 to pay closing cost or cover repairs.

Important Information:

Property Eligibility: The home must be located in an eligible rural area as defined by USDA. Many areas in Arizona qualify Queen Creek, San Tan Valley, Buckeye, Town of Maricopa, Florence, Gold Canyon, and Southeast corner of Gilbert.

To check the eligibility of a property http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11

Primary Residence Only: there is no first time home buyer restrictions the only restriction is that you cannot own another home (exceptions are relocation)

Guarantee Fee: USDA has an upfront guarantee fee of 3.5% that is financed in the loan. 103.5% LTV. There is no monthly mortgage insurance so payments stay low.

Income Limit: 1 to 4 Person Household $70,750 and 5-8 Person Household $ 93,400 all household income must be included.

No Pools: USDA does grant exceptions to the no pool rule. The house has to appraise for the purchase price without the value of the pool. This exception process can take up to 45 days after you receive the appraisal.