Chance Gates' Blog » Financing http://chancegates.com Reno/Sparks Nevada Real Estate Wed, 23 May 2012 16:06:23 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 USDA GUARANTEED RURAL HOUSING PROGRAM INCOME LIMITS http://chancegates.com/2008/12/usda-guaranteed-rural-housing-program-income-limits/ http://chancegates.com/2008/12/usda-guaranteed-rural-housing-program-income-limits/#comments Tue, 16 Dec 2008 12:39:06 +0000 Chance Gates http://cgates.blogs.rwnetwork.com/2008/12/16/usda-guaranteed-rural-housing-program-income-limits/ Program 4 Person Carson City Low Income 50500 Mod.Inc-Guar.Loan 73050 Reno-Sparks Low Income 55600 Mod.Inc-Guar.Loan 79950 Churchill County Low Income 50000 Mod.Inc-Guar.Loan 73050 Lyon County Low Income 50000 Mod.Inc-Guar.Loan 73050

Provides 100% loan to value financing for existing homes based on appraised value of the real estate.

Available to moderate-income rural households.  Property must be in a rural designated area.

No monthly mortgage insurance required.  One time gaurantee fee at closing, which may be financed above the appraised values.

Benefits:

Provides 100% loan to value financing for existing homes or new construction based on appraised value.

Available to moderate income rural households.  Property must be in a rural designated area.

Less up front cas to close requirements for this program than for  conventionally insured or FHA loans.

No monthly mortgage insurance required.  One time guarantee fee, payable to Rural Development at closing.

Fully amortized 30 year fixed rate loans.

No penalty for pre-payment.

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