USDA GUARANTEED HOUSING PROGRAM

Contact An Agent

MAJOR BENEFITS OF THE USDA GUARANTEED LOAN ARE:(1) 100% MORTGAGE LOAN TO VALUE BASED ON THE APPRAISED VALUE (2) ZERO DOWNPAYMENT AND NO MINIMUM CONTRIBUTION REQUIRED (3)   NO MORTGAGE INSURANCE REQUIRED (4) NO RESERVES REQUIRED (5) 30 YEAR FIXED RATE ONLY (6) LENDERS MUST BE USDA APPROVED  (7)LOW INTEREST RATES  (8) FLEXIBLE CREDIT GUIDELINES  (9) PROPERTY MUST BE IN A RURAL ELIGIBLE LOCATION (10) THIS  LOAN IS NOT LIMITED TO FIRST  TIME HOME BUYERS (11) MAXIMUM INCOME LIMITS VARY FROM COUNTY TO COUNTY PLUS DEPENDS ON FAMILY SIZE( EXAMPLE:  FAMILY OF 1 TO 4  INCOME CAN NOT HAVE INCOME EXCEED $78050 IN LIVINGSTON COUNTY(12)  PITI  CAN NOT EXCEED 29% OF  BUYERS MONTHLY GROSS INCOME   AND PITI WITH MONTHLY DEBT INCLUDING CREDIT CARDS, PERSONAL LOANS, STUDENT LOANS, CAR PAYMENTS ETC. CAN NOT EXCEED  41%  (13)  THE HOME MUST BE LOCATED IN A DESIGNATED RURAL AREA. CAN NOT BE INCOME PRODUCING OR LOCATED ON A FARM. OTHER RESTICTIONS DO APPLY. (14) APPLICANTS  MUST AGREE TO PERSONALLY OCCUPY THE DWELLING AS THEIR PRIMARY RESIDENCE.(15 ) APPLICANTS MUST DEMONSTRATE THE WILLINGNESS TO MEET CREDIT OBLIGATIONS IN A TIMELY MANNER.    THIS PROGRAM IS A GREAT BUYERS PROGRAM. CALL PANNO REALTY AT 815-844-6771 SO WE CAN HELP YOU GET THE HOME YOU WANT AND DESERVE.

Panno Realty
405 West Madison Pontiac, IL 61764 US
Phone: 815-844-6771 Website: http://www.pannorealty.com
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