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Buying A House With ZERO Down payment!

If you have never owned a home it can be scary venturing into the unknown world of offers, counter-offers, mortgages, credit reports, etc. But one of the biggest roadblocks to owning a home is the dreaded DOWN PAYMENT. It can be difficult gathering thousands of dollars together to put down on a house.

What if I told you that you could escape the rental trap and own your own home WITHOUT having to put ANY money down? I know, sounds unbelievable doesn't it. But with certain limitations it is true.

It is called the USDA Rural Development program. There are several advantages to this program if you think you might have trouble getting a traditional mortgage. Here are the advantages.

Amortized over 33-38 years instead of 30 years. This will get you a lower monthly payment. The downside? Because the loan lasts longer you will pay more interest.

Payment Assistance. You may qualify for a subsidized interest rate as low as 1%. The downside? (... crickets chirping ...) Sorry, I'm having a hard time coming up with a downside to 1% interest.

You DON'T have to have perfect credit. There is no specific credit limit cutoff. The downside? Your credit score will still be considered and a low credit score could still keep you from getting the loan but there is no automatic cutoff.

Rural doesn't mean the middle of no where. All of Baldwin County is considered rural except Fairhope, Daphne and Spanish Fort city limits.

ZERO Down Payment! That's right! I know it is UNBELIEVABLE but it is absolutely true.

WARNING! There are limitations. For example the most they will loan in Baldwin County is $144,800. AND you have an income limit as well. So this loan isn't for everybody, but it just might be for you!

If you would like to learn more about the USDA program give me a call or shoot me an email.

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