We’ve had TONS of calls this week from folks wanting to know if we still have money to lend for homes in the Triangle! YES! We even have 100% loans available.
Unless you are a veteran – in which case you qualify for a VA loan – most folks looking for 100% financing are choosing USDA.
We’ve written about most of the qualifying “quirks” of the program here and here – but wanted to add a couple of notes.
First off, you do NOT have to be a first time homebuyer to qualify for a USDA home. The “rigid” rule is that you can not currently own a home. However, if you own a home in Ohio (for instance) that will not sell – and you rent it and move to NC, you can get a 100% USDA home loan!
The other sticking point is that you can not have mroe than 20% liquid assets. SO if you are purchasing a $100,000 home you can not have more than $20,000 in liquid assets. These liquid assets do NOT include money in retirement or 401K accounts.
It’s a great program, and the rates are still REALLY low!
I We found this VERY cool map that shows exactly where you can purchase a home in Western Wake County using the 100% USDA program! As you can see, if you are on the “left side” of Ten Ten, in Holly Springs, or Fuquay – or parts of Apex, you qualify for this 100% program! 
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