We’ve helped many customers buy homes with an old program offered through the USDA… not to buy farms… HOMES.
The Rurual Economic Development Fund is what it use to be called, now it’s just a part of the USDA RD Home Loan Program, and the goal is to provide mortgages, and incentives for folks to purchase homes in less “densly” populated areas!
So, in Wake County, NC that would be the areas in Apex, Holly Springs and Wake Forest . All of Fuquay and Garner qualify for a NO MONEY DOWN, USDA mortgage… parts of Durham qualify (look at the areas around Briar Creek!) and all of Johnston County qualifies.
Again, it’s a NO MONEY DOWN loan, with NO PMI! One of our customers was just quoted in the WSJ about this program! He said, “I couldn’t believe it until I got to closing!” He only paid $1200 out of pocket to get into a very nice $228,000 home!
Qualifying for a USDA home loan, is fairly easy. You need to meet the Income Requirements, and the Minimum Credit Score is 620.
Remember! If you are a first time homebuyer, or you have not owned a home in the last three years, you might qualify for the NC Housing Finance Agency Mortgage Credit Certificate!
Looking for Today’s Best Rate Mortgage Loan in Raleigh? Call Steve and Eleanor Thorne, 919 649 5058 - we know all of the rules, we make dozens of these loans monthly, and we can help you with your new home dreams! Connect with Us on Twitter!