The EBA Way - A Better Way to Buy a Home

Zero Down USDA Rural Development Home Loan Program Helping Buyers Posted Nov 13th, 2008 by Katie Dunkle, e-PRO, GRI Realtor®

The credit industry is certainly tightening its belt and securing financing is a challenge for even the most credit worthy. So what do you do if you want to take advantage of the extraordinary buyers market we are experiencing but you do not have the 5-20% down lenders now require?

A USDA Rural Development Housing Loan might be the answer for you. Although these loans have been around for a while, you may not know about it. The program is offered by the Rural Housing Division of the US Department of Agriculture to encourage development in more rural areas. Locally, buyers can find qualifying homes in Cumberland, Hoke, Lee, and Harnett counties.

The benefits of a USDA Rural Development Home Loan are:

No down payment required
NO mortgage insurance required
Flexible credit qualifying
Reasonable debt to income ratio allowances
Strong fixed rates
Possible to finance up to 100% of repairs (perfect if you are looking for a fixer upper.)
For information about eligibility, visit the USDA Income and Property Eligibility webite or, call me at 919.573.6150 for a list of mortgage consultants.

For more information about Fayetteville and surrounding areas real estate, contact me at Buyers Advantage Group Realty today, 919.744.0785!