USDA Galveston TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Galveston? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Galveston.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

house loan

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Galveston is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

refi

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

best mortgages
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

interest only mortgage

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Galveston.

It has to be a Single Family home in the Galveston area, without a barn structure on the property.

Then it also has some home price limitations.

average mortgage

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

home lenders

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

mortgage company

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Galveston – Do You Pre-Qualify?

mortgage bank

If the elevator tries to bring you down, gocrazy.

Punch a higher floor.

This is Dan on your inside team at Growella.

It's Monday, July 9, 2018.

Get ready.

It's today's The Mortgage Minute-and-a-Half.

People be like put me in work work work workwork work.

And employers obliged.

Friday, on the ninth anniversary of the endof last decade's recession, the Bureau of Labor Statistics reports that two-hundredthirteen thousand people entered the U.

S.

workforce last month and that's a positivesignal even though not everyone re-entering the force has found an actual job.

Just the act of looking for jobs suggestsconfidence among U.

S.

workers, and confidence leads to consumption which drives the domesticeconomy forward.

The jobs report also showed U.

S.

worker hourlywage growth to be on the downswing, a data point which gave mortgage rates a quick Fridayreprieve.

Slowing wages reduce the pressure of economicinflation and when the pressures of inflation drop, mortgage rates often do, too.

So, take a look at today's live rates andget yourself a quote.

Rates are holding near the lowest in six weeks.

Today's mortgage rates are in the dirt dirtdirt dirt dirt dirt.

Interest rates for FHA loans, VA loans, conforming,USDA, and jumbo -- everything's up to kick off the week.

The rates you get from a lender are customizedand more than a dozen factors go into your quote.

Whether you go fixed or ARM, full fee or zerocost, even your choice of lenders affects the rate you get so talk to two or more lendersand find your preferred combination of rates, fees, and service.

No matter how far you push the envelope, it'llstill be stationary.

And no matter how matter how many times youhear you need twenty percent down to buy a home, it's still going to be not true.

You don't need twenty percent down to buya home.

And that fact makes a data point from EllieMae a little more concerning.

The mortgage software firm asked more thanthree thousand renters: "What's stopping you from buying a home" and the overwhelming answerwas "I haven't saved enough for a down payment".

Of all things, saving for a down payment shouldnot be the thing that stops you from buying.

After all, there are seven government-backedmortgage programs that let you make down payments of less than five percent -- some don't evenrequire a down payment at all.

HomeReady, HomePossible, HomePath, FHA loans,USDA loans, VA loan, Conventional 97.

Then, there are local government programsthat give money to buyers for buying in particular areas.

Forgivable money.

And it's there, if you want it.

So, don't get hung up on the twenty percentdown thing if you want to buy a place.

Lenders don't care so much what you put down.

They just want to know you can make your monthlypayments.

So, talk to a lender and find out what's possible.

You can't know until you ask.

Growella does timely and relevant mortgagenews three times weekly and you can visit the site at Growella dot com for more excellentmortgage and real estate news.

Go on and click the like button.

What's blue and not heavy at all.

Light blue.

Local, Low Rate Lender - Intent Mortgage

house mortgage rates

hey this is Chris the mortgage pro todayI'm gonna teach you how to qualify for a mortgage well there's a lot of thingsobviously that a lender has to look at so let's go through each and every oneof them the first one that stops everybody and they get all nervous iscredit now some people have outstanding credit and some people hey they havechallenges maybe they had late pays you know bad things happen to good peopleall the time and sometimes that's the reason for a low credit score sometimesit's you don't even have enough credit so let me give you a way to think abouthow the lender will look at your credit they say to themselves hey if this guycan't pay a $25 a month credit card are we gonna lend them three hundredthousand dollars it's a small way of thinking don't think fold up thinkbigger think I'm not gonna go out to dinner I'm gonna pay my bills first youpay your bills this is what my mama taught me first you pay your bills youpay the mortgage you pay all your other debts then you figure out a wheat andsteak over eaten beans it's just a way to think if you think like that in ashort period of time your credits gonna be good enough to fire your landlordokay next thing lender needs to know income well do you have job stabilityhow long you been on your job look you could get a job and get approved thenext day you really can but if you change jobs every three months well thatjob stability isn't there they want to see some kind of stability do they wantto see income of course how do they know that you can afford to make that paymentthey need to know that you have the income they expect it to continue forusually three years is what they're looking for obviously you can get fireyou can get laid off things could change but they have a reasonable expectationof three years going forward that the income will continue so they want to seethat they'd love to see a history the stronger the history the stronger thecase you could fire your landlord okay next thing they want to seedownpayment they call this skin in the game if you put up your own money thatyou worked hard for for a down payment they say hey they got some skin in thegame they're serious they're committed now if you put a zero down program andwe have these zero down programs they work great for some people but it makesa little bit tougher for the underwriter to say yeah they're worth taking a shoton so we want to see a down payment sometimes people put $200,000 on a downon a four hundred thousand dollar house do they have some skin in the gameit makes the underwriters decision way easier doesn't it and if a person can'tput a thousand or two thousand dollars down it makes the underwriter a littlenervous so take advantage of the programs save some money but be surethat you're ready to show you're committed to this transaction okaysomething else obviously the underwriter wants to seewe need an appraisal of the property we have to know the lender needs to knowthat if it's a four hundred thousand dollar loan that the house isn't worththree hundred and fifty thousand dollars so the collateral is the last piece ofthe puzzle that they have to make sure it's worth it but that also protects youas the borrower why because if you commit to buying a house for $400,000and it appraises at three hundred and eighty thousand is that something youreally want to do so this is designed to protect you and protect the lenderthat's a big deal okay not only do they want to see your credit but on thecredit report it's a list of debts what do you mean well you have your carpayment on there you have your credit cards you may have child support alimonywe have to look at all the debts if you make $5,000 a month but you have $2,000a month in debt doesn't leave a whole lot for a house payment so we have tolook at all the numbers versus your income so that's the last thing thatthey're gonna want to see how much is going out already because you're gonnaadd on this new house payment okay so those are the five things that alender needs to see they want to see your credit are youresponsible do you pay your bills on time or do you make excuses for notpaying them do you have crazy debt that's out of control that you can'thandle when you add on house payment do you have income and job stabilityhow's that going do you have five new jobs or one new jobit doesn't really matter if you have two or three jobs but if you change your jobon a regular basis not gonna work what else they want to see how much moneyyou've saved what's in your 401k what's in your IRA what is in your bank do yousave money do you have a financial responsibility that you are showing youare a responsible borrower those are the key things they want to see andobviously the appraisal they want to make sure the collateral is solid itprotects the lender and protects you so this is Chris Trapani call me I'll helpyou figure it out and together we're going to fire your landlord!.

equity loan

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agency DeSoto TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in DeSoto? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan DeSoto.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

mortgage payment

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in DeSoto is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

home equity rates

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

equity loan rates
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

interest only mortgage calculator

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in DeSoto.

It has to be a Single Family home in the DeSoto area, without a barn structure on the property.

Then it also has some home price limitations.

champion mortgage

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

gmac mortgage

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

top mortgage lenders

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan DeSoto – Do You Pre-Qualify?

equity line of credit

Remember that time you had to do a deal where the lender's telephone number had a seven digit extension at the end? That was no fun.

So, let's make sure that you never have to go through that again.

And I understand the scenario.

You've got that new referral.

You wanted to make sure that everything was just perfect so you send them on over to your trusty mortgage lender.

That's been doing deals for you consistently, since back when mortgages were actually hard.

But that all got derailed when your new client, they shopped online and found a lender with a much much, much lower rate.

They went to Nerd Wallet or Bank Rate or something and they clicked on that person with a lower rate.

And they got routed to somebody with a seven digit extension.

You know the rest from here.

That a horrible transaction.

Let's make sure that never happens again.

Instead, have your client #SHOPME.

let's make sure that they get those low rates that they're craving.

But you don't have to deal with that seven digit extension person.

In fact, when they call me, no extra extensions required.

Rings right through my personal cellphone here.

We make sure they're taken care of.

And not to toot my own horn, but I actually know how to fill out at AAR ppre-qual! Give me a call.

We'll talk to you soon!.

HOF Winner: First American Mortgage Solutions - Lender's Choice for Best Service Provider

bad credit mortgage lenders

I don't want your client's loans.

I don't even want to hear from them.

In fact, I'm gonna show you how to make it so that they never have to hear from me, but they can still get our low rates and our low fees from your preferred lender.

Tt's actually pretty simple.

On your next deal, in fact, on the deal you already have in escrow, get your clients to agree to let you send me these four pieces of information.

I'll put together our rates and fees for their scenario and I'll shoot it over to you.

Then you can take that into your current preferred lender and say, "Hey buddy! Hook my clients up, just this once?" Wait, I said that all wrong.

"Hey buddy! Hook my clients up, Every time!" If they're willing to hook your clients with our low rates and our low fees, every single time, then I don't want their loans.

I don't even want to talk to them.

But if they're either unwilling or unable to do that, then you need to know that we are both willing and able to do that for your clients.

You owe a fiduciary duty to your clients to do what you know is right for them.

If your current lender is willing to do that for them, then stop watching this video.

But if they're unwilling to do that then finish up this video, shoot me a DM on facebook, give me a call, shoot me an email! Whatever it takes, let's get together and do what's right for your clients, every time.

mortgage rates canada

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Loan Company Grapevine TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Grapevine? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Grapevine.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

mortgage fraud

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Grapevine is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

loan interest rates

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

mortgage closing costs
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

mortgage company

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Grapevine.

It has to be a Single Family home in the Grapevine area, without a barn structure on the property.

Then it also has some home price limitations.

mortgage assistance

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

conventional mortgage

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

applying for a mortgage

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Grapevine – Do You Pre-Qualify?

usda rural housing

Our customers continually praise FirstAmerican Mortgage solutions for their dedication to innovative solutions andcustomer service.

Offering FraudGuard®, valuations, title, closing, and home equitysolutions.

Through Encompass they continue to exceed customer expectations,and are making a difference in the loan manufacturing process.

First AmericanMortgage Solutions knows that partnered with Ellie Mae they can deliver onsolutions that build customer loyalty.

They're making a lasting impression.

Here's what we are hearing from our customers: They are easy to work with.

Through Encompass they go above and beyond in customer care, and we loveworking with them, and they look out for us.

The Ellie Mae Network can only be successful through the strength ofpartner contributions it is absolutely critical to our client success and themortgage industry.

Congratulations to First American Mortgage Solutions Ellie Mae 2019 Hall of Fame winner - Lenders Choice for Best Service Provider you.

A Great Mortgage Lender in Texas!

top mortgage lenders

Hi, Katie the Mortgage Lady with Total Mortgage.

A lot of my borrowers ask me why they should pick me as their loan officer, and it's really so much more than just me doing their mortgage, it's a relationship.

It's earning their trust.

I'm going to be there from start to finish to make sure that they do get to the end of the process and purchase their home.

So if you know someone that needs my help, have them go to www.

Katiethemortgagelady.

Com.

types of mortgage loans

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Spring TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Spring? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Spring.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

mortgage terms

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Spring is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

house mortgage rates

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

interest only mortgage calculator
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

home equity rates

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Spring.

It has to be a Single Family home in the Spring area, without a barn structure on the property.

Then it also has some home price limitations.

best mortgages

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

interest only mortgage

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

house mortgage rates

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Spring – Do You Pre-Qualify?

mortgage interest

I don't want your client's loans.

I don't even want to hear from them.

In fact, I'm gonna show you how to make it so that they never have to hear from me, but they can still get our low rates and our low fees from your preferred lender.

Tt's actually pretty simple.

On your next deal, in fact, on the deal you already have in escrow, get your clients to agree to let you send me these four pieces of information.

I'll put together our rates and fees for their scenario and I'll shoot it over to you.

Then you can take that into your current preferred lender and say, "Hey buddy! Hook my clients up, just this once?" Wait, I said that all wrong.

"Hey buddy! Hook my clients up, Every time!" If they're willing to hook your clients with our low rates and our low fees, every single time, then I don't want their loans.

I don't even want to talk to them.

But if they're either unwilling or unable to do that, then you need to know that we are both willing and able to do that for your clients.

You owe a fiduciary duty to your clients to do what you know is right for them.

If your current lender is willing to do that for them, then stop watching this video.

But if they're unwilling to do that then finish up this video, shoot me a DM on facebook, give me a call, shoot me an email! Whatever it takes, let's get together and do what's right for your clients, every time.

Qualifying for an FHA Loan | Total Mortgage Minute

mortgage fraud

- One of the things we wantedto talk to you, Gary, about was - we focus on bringing value to the agents and doingdirect to consumer.

So, we're doing two different models-- - Of course.

- So one of the thingsthat we are going in on is: a third of the buyers are now millennials.

- Okay.

- In our markets, andof those millennials, all the things we learnedover the past 10 years on marketing actually arepushing these people away.

Right, so we're toldto, when a lead comes in call them x number of times over this period of days and blast them-- - There's not a single personthat wants that phone call.

- No, nobody answers the phone.

So, they actually will fill out an inquiry on a lead page or something and they'll say they're interested but when we call them, theydon't answer the phone.

- What about texting them? - So that's what we've been doing.

I've noticed a littletip: like emails weren't getting opened in personal email boxes.

Work emails are getting opened, but personal inbox has become a wasteland.

- That's right.

- So I've been texting video clips through the service called BombBomb, and then also justsending quick texts asking when they would like totalk, and it's working-- - Imagine talking to people the way they want to be talked to.

- So like, is that what you believe.

what are your thoughts on text? - I'm ALL IN on text.

- Okay.

- I'm very bullish on text,it's why I have first in line.

And I believe in it the most.

Notice how I said, "what about text?" Text.

- So you think in terms ofbuilding a subscription model.

- If you added what your Instagram handle in your lead gen form andsaid in little parentheses "we will follow you on there" and DM you if we're unable to get to you by phone-- - [Neel] Yeah.

- You'll get everybody.

- [Neel] Yeah, and then-- - What you should reallydo on your lead gen form is how would you like usto communicate with you? E-mail, phone, InstagramDM, come to your house, smoke signals, write you a letter? You get a lead gen andthen you've decided through tried and true practicesfrom the 19-fucking-70's this is the industry now to communicate with them butthey don't want to communicate.

If someone called me I would be upset.

I'm upset when people call me.

- [Neel] 'Cause youdon't want a bandwidth-- - Because there's technology.

It's called text me and I'llget back to you when I can.

Not you call me on my time.

We value time.

You should make the leadgens predicated on not just, you should absolutely askthem upfront aggressively how would they like to be talked to.

If you say, we acknowledgemany people now communicate in different forms, how would youlike to be communicated to, one two, pull down, e-mail and Instagram, call and handshake, letter and telegram.

- [Neel] Makes sense.

- It will work.

- [Arjun] And with millennials that's-- - And there's old schoolmillennials that want a phone call.

And there's a 73 year oldgrandma who's hip as fuck.

(Arjun laughs) - Yeah.

- Individuality to how they want it, not just millennials do this, got it? And you have that ability.

That's how the form should be set up.

- So you actually built aservice of--and then for texting is that something they have to opt in for? - Yeah.

- Okay.

- Big time, like, you get theirthing then they gotta opt in and confirm because it'sa very sacred ground.

- It's not a spamming place.

- No, it is not.

- Okay.

Okay, and isthere anything else that you can give us as far asmarketing to this demographic which is becoming a biggerportion of our buyers? - Look, I mean, they'recynical to marketing.

They don't want the fucking-- - [Neel] They don't wanna be sold.

- They don't want thehotshot, I got a Lamborghini and a suit and I'm your real estate guy.

They want authenticity, theywant contextual creative where they live, you know? They want information, they want value, but they're like any other human.

They either wanna beentertained or informed.

Right? - [Neel] Yup.

- [Arjun] Makes sense.

- It's basic, but the problem is you can't run an infomercial anymore.

They don't carethat--there's no 27 year old that thinks it's cool thatyour face is on a bench.

- Yeah.

(Gary laughs) - I mean literally when I seea real estate agent's face on a bench I'm like thatperson is definitely dead.

- [Neel] We'll go on thefreeway and see a billboard where somebody just put up their face and I'm like that's for you,it's not for anybody else.

- 100%, and that's fine too.

- Yeah, that's cool.

- Like, Mazel Tov, enjoy, Iput my face on a billboard back in the day, it's fun, I get it.

The part where they reallylose, believe it or not I'm a little bit funny with outdoor media.

The same billboard cansell for $20,000 and 2,000.

So my opinion changes on that.

- [Neel] So there's a price but it's just not what they're asking.

- Correct, so billboardssell in a funny way.

You'll sign a six month contract and they couldn't sell it to someone else so now the month is there,now they're scattered, they don't want an emptyboard so you can buy it for 2,000 just for the month.

So I like that billboard, here's where I getscrewed up: the content.

So now you've got thebillboard at the right price.

I'll take it.

Yeah, every passenger islooking at their phone, Yes, I don't think billboardsare as good as they were 30 years ago, but you giveme a $20,000 board for 2,000, right, everything's got a price.

- [Neel] Yeah.

- That's how I think aboutmedia, but then creative.

The problem with most real estate agents when they get a billboard is they take their most stock image in a good suit.

Nobody wants to talk to you, Barry.

- [Neel] Yeah.

- [Arjun] Yeah.

- 1-800-Barry will helpyou is fucking 1987.

Why don't you put a billboard that says every other real estate agent sucks? And wear that awesome shirtthat you're wearing now and that will convert way better.

Even though some peoplehate that you said "sucks".

I know what every single banking and lawyer outdoor billboard looks like.

It is a person in a suitwith a tacky phone number.

Can't break through.

You've never seen it becauseyou're so used to it.

- Yeah, it's vanilla.

- Yeah, it's the same thing-- - You get somebody with a Faze Clan hoodie saying "I'm a lawyer andevery other lawyer sucks" and put a phone number they'regonna cream up 22 to 30.

- [Neel] Yup.

- 25 to 35.

Right? - [Neel] Yeah, that makes sense.

- [Arjun] Real estate and mortgage, both these industries moving forward with everything that'shappening in technology and how they're having to adjust to pivot which one feels the impact more? - Both because they're so inherently tied together, you know, both.

- The middle gets eliminated on both.

- Yeah, tech will eliminateeverything in the middle.

Glass doors, people will tell you those sunglasses got eliminated.

- [Neel] I bought these from Warby Parker.

- Correct, you used to goto fucking Sunglass Hut.

- [Neel] Lenscrafters or something.

- That's exactly right.

Got it? The internet wins, welose, now figure it out.

- Yeah.

- If you're in the middle you're finished.

I really believe that.

Nowthe question becomes, when? I'm right about that.

- [Neel] Mhm.

- But if I said this in 1994and you owned a bookstore you'd be like, you got called out first.

Mr.

Bezos came along.

If you were a taxi cab driverand you watched this video for some reason because it hityour fucking Instagram feed and you're like, I run an Internet taxi in 2009 you're laughing at me,that kid doesn't know shit.

And then Uber put you out of business.

- [Neel] Yup.

- The internet will puteverybody out of business if you don't build something defensible.

The only thing that'sdefensible is the best product, the best, and this is thescary thing for people because now they hearthat and they're like, well I'm the best, no you're not.

The best product that's differentiated.

You're just a real estate agent.

There's plenty of people thathave done it for 27 years too.

Or they could be LeBron and Kobe.

I have a funny feeling if I decided to be a real estate agent next year even with my lack of experience that I'd be really good at it.

(Gary laughs) - [Neel] Is that why you got Liz into it? - No, my sister got into it because she always wanted to doit, I mean, I pushed her to make the jump and supported her as she navigated inevitably what a lot of stay-at-home moms navigate which is, you know, you feel a level ofguilt that you wanna do it.

She grew up in an Eastern--Iknow what household she grew up in, onethat's very traditional, Eastern European, momstays home, you know? - [Neel] Yeah.

- So she had to go through her own shit.

The part that I pushed Liz onis her content on Instagram is "I suck, I haven't sold shit.

" - [Neel] But it's real.

Yeah.

- That's gonna lead to allour business, you know? - Yeah, it makes sense.

- Definitely.

- It just seems like justbeing at this conference there's a disproportionate amount of people in a higher age bracket.

People are in realestate and mortgage for, we have no young people in our office, it's all older people thathave been doing it for a while.

And I think they get stuck on-- - Well, everybody's introuble with young right now because everybody young thinksthey're Mark Zuckerberg.

[Arjun Laughs] - [Neel] You can't hire anybody young.

- You can't hire anybody young 'cause they're all starting companies.

We need the economy to collapse.

Then you'll get young.

- [Neel] Yeah.

- When everybody realizes theirdirect to consumer kombucha is not going anywhere,they're going to get a job.

- [Neel] Yeah.

- [Arjun] Punched in the fucking mouth.

- Punched in the fucking mouth.

- [Neel] But theseguys, for a lot of them, everybody is kind of plagued by the shoulda, woulda, coulda's'cause they're in the older part of their life and it keeps them back from future opportunities a lot of times-- - Of course.

- But I saw a piece ofcontent of yours a while back, I don't know, mixed insomewhere that said, you were talking again about how you could have invested in Uber-- - Yes.

- But you don't get yourself hung up on it because you could have doneit and then got hit by a bus.

- I'm glad you--did youlike that piece of content? Super interesting, right? - It just hit me 'cause I'm like, all the mistakes I madebefore, it let you to where-- - It got you to where you are now.

- This is the reason whyyou're at where you're at.

And use that as your fuel to go forward.

- Yeah, and by the way, Icould have been way better.

I mean, I'm prettysmart, that 400 million, it could be great, it could be great.

But it didn't happen.

Until somebody shows me a time machine my ability to look back anddwell is going to be zero.

- Yeah, makes sense.

Let me thank you for doing this too, man.

We got a ton of wine onthe way, I think, so-- - Yeah, what are you gonna do? - He's a big wine guy, I'm not.

- This is why I'm so excited about the barter I did with wine.

- It's a win-win.

- Yeah, but it was always a win-win.

I always loved when I didbarters for books, sneakers, any time I'm sellingsomething I want to barter because I want it todo well and I know that access to me is very valuable'cause you can't get it.

So I always knew I hada market and obviously as I've gotten biggerthe market gets bigger.

I mean, some of theshit I did for Crush It, like buy five books and I'llbe your best friend for a year, I didn't have the same leverage.

So anyway with books what Iwatched a lot of people do was they would buy a thousand books and put it in a warehouse.

Yeah.

Because they just wanted my time.

Maybe they gave away a couple but I don't blame them, they're busy.

If you can buy 1000 booksyou're probably busy, you know? So they're like, thebest use of their time was to put them in the corner.

Wine's going to be different.

Wine, people are gonna do shit with.

'Cause it has a natural currency in our society that's better than a book.

- [Neel] 'Cause clients love it.

- Yeah.

- [Neel] Agents love it.

- And then for me, it wasalways--once I ran the math, buy 4,000 sneakers was worthwhatever I was doing for you.

Buy four sneakers was worthwhatever you just bought, I decided was worth it based on how much pressure I felt to sell it.

What's interesting aboutthat, though, is I'm like, hm, this actually mightreally work for me.

Because I did the trade that was worth it but the backend has more of a residual.

You're going to give it to clients.

They're gonna fucking love it.

They can't get itanywhere else besides me.

It's a direct to consumer brand.

- [Neel] Could be in retail.

Okay.

- So they're gonna go tothe website and order it.

It's just gonna travel better than books.

- [Neel] It works better, yeah.

- Easier to enjoy right away.

- And I'll tell you, andI'm very proud of this, it's a $40 wine for 20 bucks.

- That's fantastic.

- So my hope is that peoplewill be able to taste it.

It's a big Delta.

- Yeah.

- That's awesome, man.

Thanks, Gary.

- Thanks.

refinance loan

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agency Euless TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Euless? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Euless.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

usda farm loans

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Euless is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

home equity rates

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

best home loan rates
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

best bank for mortgage

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Euless.

It has to be a Single Family home in the Euless area, without a barn structure on the property.

Then it also has some home price limitations.

refi

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

mortgage closing costs

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

second mortgage rates

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Euless – Do You Pre-Qualify?

mortgage closing costs

[MUSIC PLAYING] Hello, and welcome toCalHFA's lender training.

My name is Molly Ellis.

Our focus in this video is ourconventional first mortgage programs, basic guidelines,and the common ways to layer closing costs and downpayment assistance programs to benefit your borrowers.

First, let's talk about ourCalHFA Conventional Program.

This is a conventional firstmortgage with a very affordable interest rate.

It has a maximumloan to value of 97%, and a maximumcombined loan to value of 105% with a minimumcredit score of 640.

It follows FannieHomeReady guidelines.

Technically, CalHFA doesn'thave a loan amount limit.

However, we do chargea high balance fee for any loan over $484,350.

This would only be applicableif the Fannie HomeReady loan limit in the countythe property is located allows you to exceed $484,350.

Otherwise, you'd have to adhereto the HomeReady loan limit.

On a high balance loan,the max LTV is 95%.

For the highbalance fees, please check out the rate pageon CalHFA's website.

Next is our CalPLUSconventional program.

This first mortgage alsofollows Fannie Mae's HomeReady guidelines, but itcomes with built-in loan for closing costs called theZero Interest Program or ZIP.

CalHFA offers ZIPat a loan amount of 2% of the firstmortgage loan amount or 3% of the firstmortgage loan amount.

Please check out therate page for pricing.

ZIP has a zero interestrate with deferred payments.

It's only available forfirst-time homebuyers, and remember, the definitionof a first-time homebuyer is someone who is not owned andoccupied a principal residence in the past three years.

One of the bestbenefits of using either conventional program isthe reduced mortgage insurance rates through GenworthMortgage Insurance.

The borrower can choosea monthly premium, a single premium, or theycan choose from several split premium options.

This allows you tocustomize the loan to meet the needsof your borrower.

You can access Genworth'sMortgage Insurance rates through our RateExpress, or we've also included a link in theloan program handbooks on the website.

Click on Lenders/RealEstate Agents, then click the LoanProgram Handbooks tab, then choose the program handbookapplicable to your loan.

For all CalHFAconventional programs used by first-time homebuyers,homebuyer education is required for at leastone borrower on the loan.

CalHFA does not allowmanual underwriting or non-traditional crediton our conventional loans.

What makes our program so greatis our down payment assistance and closing cost assistancelayer these programs with our first mortgagesto increase affordability for your home buyers.

For example, if yourborrower is employed in a K through 12 publicschool in California, they would be eligiblefor CalHFA's Schoolteacher and Employee Assistance Program.

This mortgageassistance will lend 4% in down payment or closingcosts at a very affordable 3 and 1/4% simple interest rate.

Or if your client doesn't workin California's public schools, they can use our MyHomeAssistance Program.

MyHome is 3 and 1/2% of thesales price or the appraised value, whichever is less,which could get your borrower almost 6% or 7% in mortgageassistance when you layer it with CalPLUS and ZIP.

The interest rateis only 3 and 1/4% simple interest withdeferred payments.

And whether you'reusing the School Program or theMyHome program, it does need to be insecond lien position, and your borrower needs tobe a first-time homebuyer.

Make sure you take a minuteto check out the rate page on the CalHFA website.

We offer a lower interestrate if the borrower decides not to use the down paymentor closing cost assistance, and a lower rate if theyare purchasing home either in a Fanny HomeReady areadesignated as no-income, or when the borrower's incomeis below the Fannie HomeReady limit.

Please remember, theFannie HomeReady limit is only an indicatorfor a lower rate.

If the borrower is overthe Fannie HomeReady limit, they are stilleligible for CalHFA, it's just at a higher rate.

You can use the FannieHomeReady Lookup Tool to find the informationon specific property address and get the FIPS number-- you'll need to enter it intoCalHFA Mortgage Access System.

That covers our conventionalfirst mortgage programs and the down payment assistanceand closing cost assistance that can be layered with them.

Now let's move onto the property requirements and maximumlender origination fees.

The property requirementsfor these programs for the most part follow FannieMae's HomeReady guidelines.

Also, make sure you adhereto any lender or investor overlays.

The sales price ofthe property must be within CalHFA'scurrent sales price limit.

A one-year homewarranty is required for first-timehomebuyers unless they're purchasing new construction.

The property cannotexceed five acres.

Manufactured homes are allowed.

If it meets Fannie Mae MHAdvantage, the max LTV is 97%.

But if it's MH standard,the max LTV is 95%.

Either way, minimumcredit score is 660.

If the property meetsFannie Mae guidelines for an accessory dwellingunit, then as allowed, you can count the rental income.

Now, let's talkabout lender fees.

First, to originateCalHFA loans, you must be aCalHFA-approved lender.

The maximum a lender cancharge in lender fees on the first mortgage is 3%.

This includes origination,processing, and underwriting.

It does not includeany third party fees.

Our rates are at par, so youhave to charge origination on these loans.

But with the closing costsand payment assistance from ZIP andMyHome, the borrower will still have very littleout-of-pocket expenses.

CalHFA will allow you to chargean additional subordinate processing fee of $250 forMyHome or the School Program, and an additional $50processing fee for ZIP.

Also, you may not chargeany additional fees like origination,per diem interest on the subordinate loans.

We want to help make this easy,so we have provided some tools to help you process loanswith CalHFA programs.

The loan program handbookfor each one of our programs includes all the detailsabout the program in one easy handbook.

The loan program matrixprovides a quick reference of terms and requirementsfor all CalHFA programs.

The very popular loanscenario calculator will help you calculateloan amounts and print results for your borrowers.

You can find these toolsunder Lenders/Real Estate Agents on our website.

Click on Loan Program Handbooksfor the program handbooks, the Calculator icon for theloan scenario calculator, and the Tools, Affidavits, andDocs tab for the loan program matrix.

Now let's look at the funstuff before we close.

Our single familylender training team offers in-person trainingclasses every month across the state.

Attend a four-hourworkshop to learn all about CalHFA's programs.

Classes are announcedeach month on our website and through our monthlye-news announcements.

To sign up for our class,visit CalHFA's website, choose the Training Calendarlink under Lenders/Real Estate Agents, and sign up for a classthat will work best for you.

We also provide customizedmarketing materials that can be downloadedfrom our website by clicking on theLenders/Real Estate Agent section of the website,choose the Loan Officers tab, then choose the Sales Toolsand Marketing Materials link.

For any questions you may have,contact Single Family Lending at 916-326-8033.

Or you can email ourLender Services Division at lendertraining@calhfa.

Ca.

Gov.

Thank you so much for your time.

Now get out there andhelp more Californians have a place to call home.

[MUSIC PLAYING].

[Home Loans] Conventional Loan | FHA Loan | VA Loan (Mortgage) FHA

american mortgage

So Steve, What are the requirements for the USDA program? So USDA has a few interesting requirements First of all, you'll need to have at least a 580 credit score Some lenders require a 620 credit score Your household income has to be under the county maximum Like a lot of down payment assistance programs This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying What's unique about this one is the home has to be within a designated area.

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don't qualify But we only need to go 10 miles away to where there's an open area where there's Several homes that qualify.

USDA stands for United States Dept of Agriculture But it's NOT a farm loan.

Specifically, they don't finance this program for farms.

It has to be a Single Family home without a barn structure on the property.

and then it also has some home price limitations.

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs? So it's different because it's not really a down payment program but it allows financing up to a 100% of the purchase price And it's interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what's unique it's a 100% Financing So you don't need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower Than if you combine it with a down payment assistance programs And you don't have to repay any down payment assistance It has a monthly factor It's like mortgage insurance upfront It's financed at a monthly component Much less than FHA So if you can qualify for this program It's better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

Great! And on average How much does the home buyer have to come in with out-of-pocket? So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price We can finance the closing costs Up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

on that type of loan What type of home buyer is this program ideal for? So certainly those that don't have access to money for a down payment Anyone that wants to live that doesn't have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area It's also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They'll do manufactured homes They'll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There's a couple little quirky things That you don't run into very often Like you can't actually have a barn on the property It definitely can't be for agricultural purposes It has to be for residential purposes Ok Great! Thanks Steve.

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USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agency Port Arthur TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Port Arthur? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Port Arthur.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

loan lenders

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Port Arthur is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

current home mortgage rates

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

mortgage payment
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

best mortgages

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Port Arthur.

It has to be a Single Family home in the Port Arthur area, without a barn structure on the property.

Then it also has some home price limitations.

usda rural housing

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

mortgage payment

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

conventional mortgage

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Port Arthur – Do You Pre-Qualify?

equity line of credit

Hi, have you been thinking about getting a reverse mortgage? Well, I'm excited today to tell you about the new reverse mortgage Hi, my name is Richard Woodward I'm a licensed originator and certified reverse mortgage specialist and I can tell you that I am so excited about the new reverse mortgage programs that are on today And they're so much better than the what they used to be when they started out there were some scary things that were attached to them today in the new reverse mortgage you have added protections you In fact, you will never oh more than 95% of their home's value at the time the loans paid off There's some great new protections put into place with the new FHA government insured reverse mortgage.

I'd love to share those with you So I'm going to be doing a series of videos subscribe to my channel and you will learn more about them Let me tell you about one quick scenario Let's say that you're 62 years of age and you are going into retirement and you still have a mortgage on your house Would you like to stop making payments? Well with a new reverse mortgage you actually can you can take out a reverse mortgage pay off that existing mortgage and then use those funds in other ways a Very smart way to use that is to continue paying towards your reverse mortgage Your reverse mortgage will then automatically take those funds and put those in Portion of those funds into a line of credit for you that line of credit is guaranteed to grow at a specific rate Far superior to any savings or cv rates so that one 10 years down the road you'll have money set aside for Emergencies that you can tap into if you want you can use those funds to not take out taxable income from other Saving venues, so there's great opportunities with reverse mortgages and added protection so Again, subscribe to my channel.

Call me at (214) 945-1066 again, (214) 945-1066 and let's look at your scenario I'll do a free proposal for you.

Thanks so much, and I look forward to seeing you in our next video.

FHA vs Conventional loan

40 year mortgage

- [Interviewer] In money,hard money lending, there's almost no lender thatdoes a consumer-purpose loan, or will consider an owner-occupiedconsumer-purpose loan.

How's it possible forPacific Private Money to do these types of loans,where other people can't? - Well, it's funny becausewe hear all the time, oh it's illegal to do a private money loan or a hard money loan, on anowner-occupied residence, and that's simply not true.

The regulations allow it,it's just you have to follow very specific underwriting guidelines.

First of all, you haveto be licensed to do it.

And a lot of people in theprivate lending business, are not willing to go outand get the NMLS license.

They're not willing to becomea mortgage loan originator.

So the extra licensing, itcosts money and it takes time.

You also need to have theunderwriting guidelines, which we paid our law firm alot of money to help us create those underwriting guidelinesso we could be in compliance.

And, so, at the end of theday we need to make sure that they have the ability toafford those monthly payments.

There's also certain otherrules and regulations, for example.

Instead of a 10 day due date,it's a 15 day grace-period, late charges are less, you're not allowed tohave default interest.

So there's a number ofconsumer protections in there, but we really like the loan product, because there's a need for it, there's a demand for it, it helps people to purchasehomes when they couldn't otherwise or to borrow moneyto improve their home when they couldn't otherwise do that.

So it's not illegal, it'sjust you have to do it within the guidelines of the law.

- You have to know the law, yeah.

- [Interviewer] So it soundslike most private hard-money lenders just don't have theinterest or the infrastructure-- - Maybe the resources, - [Interviewer] Or theappetite for doing-- - Yeah, it's more expensive.

You have to scale up.

You have to hire peoplewho know how to underwrite, and produce theconsumer-driven disclosures, you have to have the software.

So between the licensing, the staffing, the paying for the education and the underwriting guidelines, and producing, and the time involved.

It's just, it's more overhead, of course, to do these things, but we just, we like the business model.

We think there's a strong need for it.

It's an underserved market, and we like underserved markets.

best home loan rates

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Loan Agent Rowlett TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Rowlett? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Rowlett.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

compare mortgage rates

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Rowlett is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

mortgage company

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

mortgage rates canada
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

second mortgage rates

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Rowlett.

It has to be a Single Family home in the Rowlett area, without a barn structure on the property.

Then it also has some home price limitations.

best mortgages

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

house loan

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

house loan

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Rowlett – Do You Pre-Qualify?

mortgage solutions

So Steve, What are the requirements for the USDA program? So USDA has a few interesting requirements First of all, you'll need to have at least a 580 credit score Some lenders require a 620 credit score Your household income has to be under the county maximum Like a lot of down payment assistance programs This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying What's unique about this one is the home has to be within a designated area.

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don't qualify But we only need to go 10 miles away to where there's an open area where there's Several homes that qualify.

USDA stands for United States Dept of Agriculture But it's NOT a farm loan.

Specifically, they don't finance this program for farms.

It has to be a Single Family home without a barn structure on the property.

and then it also has some home price limitations.

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs? So it's different because it's not really a down payment program but it allows financing up to a 100% of the purchase price And it's interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what's unique it's a 100% Financing So you don't need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower Than if you combine it with a down payment assistance programs And you don't have to repay any down payment assistance It has a monthly factor It's like mortgage insurance upfront It's financed at a monthly component Much less than FHA So if you can qualify for this program It's better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

Great! And on average How much does the home buyer have to come in with out-of-pocket? So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price We can finance the closing costs Up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

on that type of loan What type of home buyer is this program ideal for? So certainly those that don't have access to money for a down payment Anyone that wants to live that doesn't have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area It's also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They'll do manufactured homes They'll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There's a couple little quirky things That you don't run into very often Like you can't actually have a barn on the property It definitely can't be for agricultural purposes It has to be for residential purposes Ok Great! Thanks Steve.

A Great Mortgage Lender in Texas!

best home equity loan rates

The USDA Guaranteed Home Loan Program is backedby the USDA – the United States Department of Agriculture.

It is a TRUE no money down home loan.

Many people who take advantage of this programare able to get into their homes with little to no money out of their pocket.

BUT, there are several eligibility requirementsthat you need to meet in order to take advantage of this home loan program.

The first requirement is that you cannot bea current homeowner.

If you already own your home but are planningto sell it, then you are still eligible! You just need to have your existing home soldBEFORE we can close the loan for your new home.

The next requirement is that your total annualhousehold income cannot exceed the limits set by the USDA.

These income limits are based on market areaand family size.

Another requirement is that you cannot havedefaulted on a USDA loan in the past.

This means that if you’ve had a past USDAloan that has gone in to foreclosure, you unfortunately aren’t eligible.

To take adavantage of this program, the homehas to be located in an eligible rural area.

But guess what, rural does not necessarilyequal country! Homes do not have to be in a country setting.

In fact, there are many areas where entirecounties and cities qualify for this program.

The property has to meet minimum propertystandards.

The home must be in satisfactory condition,and this loan cannot be used to finance any sort of income producing property.

That means mini farms, and properties withfarm acreage are not eligible.

Do you want to find out if you qualify? We make it EASY! Just give us a call at 937-548-8222 in Ohioor 765-273-4711 in Indiana, And make sure to ask to speak to a member of Your Expert Mortgage Team! Or text the word EASY to 48421 to apply today! We’re here to make your dreams of homeownershipcome true.

usda farm loans

USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

Mortgage Lender Agent San Marcos TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in San Marcos? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan San Marcos.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

second mortgage rates

The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in San Marcos is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

usda rural housing

you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

usda rural housing
What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

capital mortgage

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in San Marcos.

It has to be a Single Family home in the San Marcos area, without a barn structure on the property.

Then it also has some home price limitations.

mortgage assistance

The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

mortgage closing costs

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

refinance interest rates

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan San Marcos – Do You Pre-Qualify?

equity loan

- So the company wasestablished back in 2008, by Vance Hillstrom and Doug Watson, right now we're at abouteleven people in total, our back office and then sixcells guys in the outside.

My role in the companyis originating loans so at the moment we haveover three hundred and twenty accredited investors in our fund, so we are a direct lender,we're not syndicating any portion of your fundthat are gonna be provided, so being a direct lender,we do have the flexibility of speed, although everybody gets tied up, how quickly can you close,it really comes down to the preliminary titlereport, if it's a clean prelim then of course wecan move a lot faster, but in some cases I comeinto the middle of a deal where the previous lender couldn't close, and then there's ten items listed on the preliminary title report,so that slows things down but then again being direct,we can get back to you with a letter of intentwithin twenty-four hours, we can get out to theproperty, if we engage in a transaction within seventy-two hours, why I say that is, forexample if we get the deal on a Friday, then we'llprobably be out to the property that following Monday, butif we get it on a Monday we'll probably be out to your property on a Tuesday, or Wednesday at the latest.

- [Interviewer] So you do site visits for every single loan ? - Yes, we do come out to everysingle property we lend on.

- [Interviewer] And then whotypically does the site visit ? - In most cases, Vance, but you know, sometimes people go with Doug, but if it's multiple propertiesthat we're looking at they'll probably splitit, like we did a deal recently where one propertywas down in Carmel, and the other property was by Tahoe, so they split it up, to notdrive the whole Bay area.

- [Interviewer] So one of thetwo principals has to go look at the subject property ? - Yes.

- [Interviewer] So overall,what are the mean benefits of doing business with Rubicon, as opposed to anotherprivate lending company ? - We are local, here in the Bayarea, so that's a huge plus, how we set ourselves apartis being very transparent with our borrowers, both ourborrowers and our investors, if a deal doesn't makesense we'd rather just tell the client right awayit doesn't make sense, and we'll point themin the right direction or simply back off.

Speed is another greatfactor, again if it's a clean preliminary title report, if it's a clean property we'regonna close quickly.

We do have a good understandingon each sub-market and if we don't, we have contacts that we can reach out to andget down to the number quickly.

- [Interviewer] And noappraisals, of course.

- Of course, no appraisals,so that speeds things up if you have one, great, if youdon't, we don't require one.

Hard Money Correspondent Program for Lenders & Mortgage Brokers

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- Hey guys, Austin Schneider here, and today we're gonna gothrough the pros and cons of a USDA loan.

(jazzy music) Pro number one is that there is an option for no down payments.

Con number one is that there's some geographical restrictions.

Because this program is meant to support purchasing a home in rural areas, there are geographical restrictions that could cause quite a long commute if you are working in the city.

Pro number two, there's someflexible credit guidelines.

There's the 640 minimum, andif you do have a few dings, you're probably gonna still be okay.

Con number two is thatthere's some income limits.

You do have to meet income limits that are based off of the median income in the area you're living in.

Pro number three isthat the interest rates are typically lower than yourstandard conventional loan.

Con number three is that you can't get out of the mortgage insurance.

While it is a little bitlower with the USDA loan, it's still gonna addto your overall costs.

Thanks so much for watching.

For more on USDA loans,for the pros and cons, check out our blog atTheMortgageReports.

Com.

Thanks so much for watching,we'll see you on the next one.

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USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Eligibility Map Pflugerville TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Pflugerville? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Pflugerville.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

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The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Pflugerville is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

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you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

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What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

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So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Pflugerville.

It has to be a Single Family home in the Pflugerville area, without a barn structure on the property.

Then it also has some home price limitations.

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The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

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Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

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It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Pflugerville – Do You Pre-Qualify?

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- Hi my name is David Young and I'm the Directorof Business Development at RCN Capital.

I'm the person that runs ourCorrespondent Lending Program.

RCN's Correspondent LendingProgram is a robust platform designed to partner withother private lenders in the private lending industry to help them scale their business.

Really we've tried to focus on presenting a robust turnkey platform that helps people scale theirbusiness along four channels, capital, geography, human capital, and technology and infrastructure.

RCN Capital can help inall four of those areas.

RCN is very active in the hard money space with non-owner occupiedresidential real estate.

That includes one tofours and multi-families.

We have three product lines essentially based on term length.

There's a 12 month term product, there's a two plus one, twoyear with a one year option, and there's a 30-yearfixed rental program.

All of those are availableunder a white label umbrella through our correspondentlending platform.

Correspondent lending programis available nationwide.

Anyone can go to rcncapital.

Com.

Scroll down towards the bottom and you'll see a map of the United States showing that we're lendingin almost every state.

RCN seeks to partner witha variety of entities out there operating inthe private lending space.

Generally we connectwith other hard money, private money lenders thatare active in the same space and are looking to expandtheir business in scale, as I mentioned earlier, maybe a need to scalegeographically or with more capital or the other items thatI mentioned as well.

We also can partner undercertain circumstances with other lenders thatare actively lending and it may not be directlyin this exact space right now but would like to expand theirbusiness into a new vertical by getting into theprivate money lending space and non-owner occupiedresidential properties.

We can also consider opportunities that arise with thosetypes of organizations.

Owner-Occupied Consumer Hard Money Mortgage Lending in California

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Remember that time you had to do a deal where the lender's telephone number had a seven digit extension at the end? That was no fun.

So, let's make sure that you never have to go through that again.

And I understand the scenario.

You've got that new referral.

You wanted to make sure that everything was just perfect so you send them on over to your trusty mortgage lender.

That's been doing deals for you consistently, since back when mortgages were actually hard.

But that all got derailed when your new client, they shopped online and found a lender with a much much, much lower rate.

They went to Nerd Wallet or Bank Rate or something and they clicked on that person with a lower rate.

And they got routed to somebody with a seven digit extension.

You know the rest from here.

That a horrible transaction.

Let's make sure that never happens again.

Instead, have your client #SHOPME.

let's make sure that they get those low rates that they're craving.

But you don't have to deal with that seven digit extension person.

In fact, when they call me, no extra extensions required.

Rings right through my personal cellphone here.

We make sure they're taken care of.

And not to toot my own horn, but I actually know how to fill out at AAR ppre-qual! Give me a call.

We'll talk to you soon!.

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USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732

USDA Loan Agency Harlingen TX | USDA Loan Info | (888) 464-8732

What are the requirements for the USDA program in Harlingen? So that’s going to be looking at a 640 minimum credit score requirement.

There is a income requirement too when applying for a USDA Loan Harlingen.

So basically the income requirement is about 78,000 if you’re in a family of 1 to 4 if you’re in a family of 5+ that’s gonna go up to about $103,000 on the income limit.

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The big requirement for USDA is that it’s property specific.

It’s got to be in a USDA Approved Zone. How much down payment does this program require?

It’s actually 0% down payment which is Great!

Ok Awesome, and how much does the average home buyer come in with out-of-pocket?

So because your down payment for a USDA Loan in Harlingen is covered you’re just gonna have to come in with again your prepaid and closing cost So if it was a $300,000 purchase.

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you’d be looking at about $7,500 cash for keys to get in the home.

What type of home buyer is the USDA Loan program Ideal for? So this is going to be ideal for the home buyer that’s looking for a property in those specific areas.

Ideally it’s properties that are going to be USDA Eligible rural zones.

So not right in the middle of the city, but maybe if it’s more on the outskirts, on a little bit of land, lower tax rate areas that’s probably going to be a property that’s eligible and that would be ideal because that one would probably qualify OK, Fantastic.

What is a USDA Home Loan?

I bet you’re wondering, what is a USDA home loan?

Designed with the residents of more rural areas in mind, the United States Department of Agriculture designed its loan program to enrich rural communities by providing affordable home loan options to low-income households that may not be able to secure home financing through other means.

Who has time to stop and smell the roses? You don’t, and this isn’t even a rose.

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What are the requirements for the USDA program?

So USDA has a few interesting requirements First of all, you’ll need to have at least a 580 credit score Some lenders require a 620 credit score.

Your household income has to be under the county maximum Like a lot of down payment assistance programs. This is based on family size So 1 to 4 is one category and then 5 and above is a higher threshold for qualifying

What’s unique about this one is the home has to be within a designated area.

refinance interest rates

So, Typically what that means is.

NOT within a metropolitan area So within our area here (Riverside county) Our local cities around her don’t qualify But we only need to go 10 miles away to where there’s an open area where there’s Several homes that qualify.

USDA stands for United States Dept of Agriculture But it’s NOT a farm loan.

Specifically, they don’t finance this program for farms in Harlingen.

It has to be a Single Family home in the Harlingen area, without a barn structure on the property.

Then it also has some home price limitations.

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The Threshold is a little bit lower than say an FHA loan for the loan limits.

Ok, and how does this program differ from other Down payment programs?

So it’s different because it’s not really a down payment program but it allows financing up to a 100% of the purchase price And it’s interesting because you can actually use this program with 1 or 2 of the other programs.

If you need closing cost assistance But, what’s unique it’s a 100% Financing so you don’t need a 2nd or a 3rd lien on the property.

Your interest rates are typically lower than if you combine it with a down payment assistance programs and you don’t have to repay any down payment assistance.

It has a monthly factor It’s like mortgage insurance upfront It’s financed at a monthly component.

Much less than FHA So if you can qualify for this program It’s better than FHA And As I mentioned, rates and payments Are typically lower on this program So USDA is really a great program.

bad credit mortgage lenders

Great!

And on average How much does the home buyer have to come in with out-of-pocket?

So Again, we are financing the whole loan Purchase price up to 100% So the only thing remaining is then the closing costs Typically, plan on around 3% of the purchase price for funds to close.

The question there then becomes, Well, Where does that come from? Typically, we ask the seller to cover those costs And if we can get the seller to cover 3% Then, the buyer may only need to come in with an earnest money deposit.

And they may even get most or all of that back.

If the seller is covering all the fees.

One unique feature about USDA Versus all other loans is that if the home appraises for more than the purchase price.

We can finance the closing costs up to that appraised amount So, no other loan I know that we can actually finance the closing costs.

What type of home buyer is this program ideal for?

So certainly those that don’t have access to money for a down payment Anyone that wants to live that doesn’t have to live within a metropolitan area because, again, the house has to be in an area that is not in a high densely populated area.

best home loan rates

It’s also suited well for people who have some credit issues and anybody that qualifies for this program would definitely be better served than going FHA so those type of people.

And besides the Area restrictions are their any other property restrictions? So property restrictions are going to be similar to FHA They’ll do manufactured homes.

They’ll do homes with Casitas So no real other restrictions.

Just if it conforms to the FHA guides then it should qualify for USDA There’s a couple little quirky things that you don’t run into very often like you can’t actually have a barn on the property It definitely can’t be for agricultural purposes It has to be for residential purposes.

USDA Loan Harlingen – Do You Pre-Qualify?

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Well hi there, I'm Michael Hausam of TheHausam Group at Vista Pacific Realty; so I had a couple of buyer consults last weekwhere the issue of pre-qualification came up.

or pre-approval or conditionalloan approval; there's a bunch of different words for that; oftentimesthey're used interchangeably, but this is arguably as an upfront effort one of themost important things that a homebuyer can do and the confusion about theseterms and what they mean is pretty significant; also there's quite atremendous strategy involved if you complete this process correctly; so Iwant to define a few terms and correct a few errors along the way; all right, sofirst of all the pre-approval or pre-qualification, conditional loanapproval, whatever you call it, is basically all the work that's done by abuyer up-front, before they ever go out and buy a house; okay it really makessense to do that no matter what because you want to be making sure that you'relooking for homes in the price range that you can qualify for and also itmakes a heck of a lot of sense to make sure that the home that you'd like issomething that you can actually spend the money on to buy, both on the cashdown as well as a monthly basis; but let's look into the details;there are basically three levels of work that can be done upfront; number one iscalled pre-qualification; pre-qualification is a verbalconversation with a lender; sometimes it might include a credit report sometimesnot, it never includes providing incomedocumentation; basically a pre-qualification is a paper-napkindiscussion with the lender that says, "yeah this is about whatit's gonna cost and if everything you told me is correct, you might be able toget a loan.

" It basically is the simplest, least intrusive way to have aconversation with a lender to kind of figure out, "yeah I think you couldprobably qualify for a loan.

" But let me assure you this, precisely zerolistening agents and home sellers are impressed with the pre-qualification; thesecond level of advanced work is known as a pre-approval; now way back in theday, in the 1990s when I first got into the mortgage business, a pre-approvalmeant that you took an entire loan file and took it to an actual humanunderwriter who went through everything and signed off on the loan; that wasliterally pre-approved before finding a home; well nowadays it's a little fuzzierthan that; a pre-approval typically will include providing income documentationto the lender, pulling a credit report, and then submitting to an electronicunderwriting process, but no formal loan underwriting approval is given; basedupon my experience roughly 99.

9 percent of all transactions go together with apre-approval.

But notice the key point on that: no underwriting approval from anactual human underwriter; what they do is this is they take all the incomedocumentation and then they type it in the computer - pay stubs show this - incomeshows that - credit report shows this - they put that all into a computer press ENTERand Fannie Mae's version of this is called the desktop underwriter and itspits out what they call a "finding" and the finding is they are going to getapproved; or you're likely going to be approved; what it isn't is an actualapproval; the key test would be this: if you've got what you think is a fullyunderwritten loan approval from a lender, you can ask them what are the conditionsof the loan approval and you'll hear something like, "well, we don't have actualloan conditions yet because you need to find a house and submit the loan withthe contract and appraisal and all that to get your loan conditions.

" Well that'sthe key: you don't have an approval you have an electronic pre-approval, which isnot quite as strong and that brings me to number three: aconditional loan approval or sometimes it's calleda TBD approval; TBD meaning the property is to be determined; the conditional loanapproval is like the pre-approval of old and that is you take the entire file, thepay stubs, the bank statements, the tax returns - everything - the credit report, yousubmit that to an underwriter, who goes through and signs off on it, will provideof list conditions from the lender in order to close the loan; it literally isa loan commitment; and this is the important part:the typical lender and I would say in my experience probably 2/3 of them do notlike to do conditional loan approvals, because that underwriter is a twohundred or two hundred and fifty thousand dollar a year person and their autograph,literally their signature, is sufficient to release those funds and the lender'sgonna want that underwriter not working on deals that haven't yet happened, but onthose that are already in escrow; but the key thing is if you find a lender whowill get you a conditional loan approval, you can literally go out into themarketplace with an approval in hand, effectively negotiating as cash; let meshow you an example: this right here, this is a conditional loan approval on atransaction that I did recently, from a lender that I work with called Parksidelending and if you look at this two page, three, four-page document, it's got theunderwriters name right here: Sean Mackie; it has a full on commitment from thislender with a list of prior-to-doc conditions, going onto two pages and thena list of prior to close conditions; so this is literally the commitment fromthe lender to make the loan; so the borrower's and I (my clients), we wentthrough and looked at all of these conditions to make sure that there wereno conditions on here that we couldn't meet; once we figured that out and wewere satisfied, we were able to write an exceptional offer ;the offer that wewrote didn't have a loan contingency at all; it was very important that myclients' problem, which was they needed a loan, and literally that is a problem: ifyou don't have enough cash to buy a house and you need a loan, that's yourissue, that's not the sellers issue; so we wrote the offer without a loancontingency because we already had the loan and we didn't need the time to goout and find one; and that effectively made my clients just as good as all-cashbuyers; well, as you could imagine, the listingagent and the seller loved that and we got the transaction accepted;surprisingly, we found out later they were competing against a 50% downoffer; so think about this: my clients were writing a 20% down offer,the competition was writing a 50% down offer; now typically you would think thata 50% down offer would be a better offer than the 20% down, right? Well not in thiscase; the 50% down offer, they asked for a two-week loan contingency, my clientsthey asked for none; if you'd like to discuss this further, I'd be happy tohelp you ;you can call me 949 413-2371, youcan also email me Michael @ HausamGroup.

Com Thank you very much and have agreat day!.

What is a USDA Loan?

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Today we're gonna talk about FHALoans in 2019 and What You Need To Know.

And we're getting started right now! (INTRO) Hey what's going on! How you doing?! I'm Emmett Dempsey, Mortgage Advisor with Geneva Financial here in beautiful Port St Lucie Florida and welcome to another mortgageand home buying tip.

If this is your first time here, and you want to learn more about mortgages or the home buying process in general; go ahead and subscribe to my channel and ring that Bell so you don't miss anything.

OK.

FHA loans in 2019 what you need to know.

Buying a house with an FHA loan or refinancing to FHA loan could be very very advantageous.

There's a lot of goodpoints to the FHA loan and I'll go over just a few of them.

First and foremost, itonly requires three and a half percent down payment I know I saw a study almost 3/4 of people think you need 20% down.

But for an FHA loan you onlyneed three and a half percent down.

The FHA loan is a very good loan because Icame about, you know, in the '30s after the crash of '29, and back in those dayspeople had to put down at least 50% of the property have a balloon payment soit really cornered off how many people can actually buy a house so this allowedmore buyers to buy more real estate that's why we kinda have the robustmarket we have today.

So again 3.

5% down lower FICO scores you can go as low as 500 FICO some lenders will go down that low from 500 to 579 is 10%down whereas a 580 or above the only 3.

5% down.

Also since it is FHA is insured, you know since you paid a funding fee and mortgage insurance you knowthat's one thing you pay for it allows for very low interest rates so comparedto conventional vs FHA your interest rate will be lower because thethe risk to the lender is insured with FHA mortgage insurance.

Also FHA loans will allow a higher debt to income limit so I've had some FHA loansgo as high as 56% so uh you know usually at 43 45 was that was the cut off what alot of lenders will have an overlay for that.

We go all the way for as longas we can get approval.

So I've had a lot of FHA loans that are you know over 50%that would have never gotten approved anywhere else but our company so that's one thing.

Some of the drawbacks about FHA loans, they do require, you know, there'ssome property requirements, you know , they you know, and they're not as big as asyou would think.

They just require have it be livable like you can havehave any wood rod or anything of that nature of their owner-occupied only soyou do not for fixer-uppers so but there is an FHA program for fixer-upperscalled called the 203K and you know we'll go over that in a differentdifferent conversation so but for a normal FHA loan you have a new goodproperty requirements it's good for you as the buyer because you can have alower FICO lower down payment things like that also at FHA loans allow forall gift funds I've had some FHA loans where my client got a grant from thecity and they paid like a hundred dollars they're actually paid nothing atclosing because I we funded the appraisal and they paid nothing so youknow FHA loans allow some some very creative financing options if youwant to learn about your FHA loan scenarios you know give me a call or go to www.

Dempseymortgage.

Com and put in your info and I'llget back in contact with you and as always you want to learn more aboutmortgages at the home buying process in general go ahead and subscribe to mychannel ring that bell so you don't miss anything thank you so much for watchingand I'll see you on the next one!.

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USDA Loan Company in Texas | USDA Loan Info | (888) 464-8732