100% Financing! No Mortgage Insurance!
Perfect for the Willamette Valley!
The Guaranteed USDA Rural Housing home loan is available for properties located in a rural area. The USDA loosely defines a rural area as a town or area with a population of 25,000 or less. In the mid-Willamette Valley these towns include, but are not limited to Stayton, Silverton, Aumsville, Monmouth and Independence. All properties must be deemed eligible based on the USDA Rural Housing eligibility map.
Borrower eligibility is based on income and credit. Income may not exceed 115% of the median income for a given area. Credit histories must be reasonable (i.e. most banks are requiring a 640 minimum FICO score).
No minimum down payment is required. Sellers can contribute up to 6% of the sales price towards closing costs/prepaid finance charges.
The application process for the USDA Rural Housing loan is very simple. Give me a call (503.798.9183) or shoot me an email to get started on your application today. As always, I’m available for questions.
To download a flier please click here.