Home Loans California & Arizona

Whether your heart is set on owning a small home or a suburban home in Running Springs, California, a USDA loan could take you one step closer to becoming a homeowner in California.

 

USDA loans, also known as Rural Development loans, are supplied by the U.S. Department of Agriculture via the USDA Rural Development Guaranteed Housing Loan Program. Designed specifically to boost the economy of rural areas, USDA loans are available to those living in less densely populated parts of the country, including the majority of Running Springs . Although the loans are government-sponsored, lenders are entirely responsible for handling the USDA loan application process.

USDA loan program in Running Springs CA

 

Many home buyers have never heard of the USDA program because so many lenders don’t offer the program. This is one of the best first-time home buyer programs ever, and possibly the best deal for you if you're buying a home in a rural or small-town setting.

 

Here’s why:

 

Running Springs USDA Home Loans Features & Benefits

 

  • It offers 100% financing: No down payment is required.
  • The monthly mortgage insurance is cheap.
  • It’s government backed, so the interest rate is low.
  • Closing costs are standardized (the seller can pay the closing costs).
  • There are no reserves required.
  • It’s a 30-year fixed-rate program.
  • There are no restrictions on gift funds.
  • Nontraditional credit histories are considered.
  • Blemished credit is often workable.
  • New or existing construction is acceptable.
  • It’s not limited to first-time home buyers.
  • There are never any prepayment penalties.

USDA Loan Requirements 

 

  • Meet the income limit requirements 
  • Be a U.S. citizen, non-citizen national or qualified alien 
  • Occupy the property as your primary residence 
  • Show a willingness to meet debt obligations 
  • Home must be in an eligible location 
  • Work with a USDA-approved lender 
  • Have an adequate credit score for the loan, preferably 620-640 or higher

 

Ready to start your USDA home loan in Running Springs, California please call Nathan Rufty at 909-503-5600.

Posted by Nathan Rufty on March 20th, 2019 4:28 PM
As an approved California USDA Loan lender, Nathan Rufty. is here to guide you through the application process. Designed to help stimulate growth in California’s smaller, but attractive, communities and regions, these government insured loans can bring your dream of homeownership within reach. While USDA Loans are limited to smaller rural areas, you will probably be surprised by the number of communities within the great state of California that do qualify. Even properties that lie right outside of a major metropolitan area may be eligible.

USDA Home Loans Benefits in Crestline CA


  • NO down payment – Finance 100% of your home
  • NO maximum loan amount in Crestline, California.
  • NO assets needed to qualify
  • Flexible credit guidelines
  • Competitive, fixed interest rates so payments do not increase
  • USDA Loans are for new and existing properties

Who in Crestline, California can apply to this program?

Crestline CA USDA purchase home loan
A number of factors are considered when determining an applicant’s eligibility for Single Family Direct Home Loans. At a minimum, applicants interested in obtaining a direct loan must have an adjusted income that is at or below the applicable low-income limit for the area where they wish to buy a house and they must demonstrate a willingness and ability to repay debt.

Applicants must:

  • Be without decent, safe and sanitary housing
  • Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet
  • Agree to occupy the property as your primary residence
  • Have the legal capacity to incur a loan obligation
  • Meet citizenship or eligible noncitizen requirements
  • Not be suspended or debarred from participation in federal programs

Properties financed with direct loan funds must:

  • Generally be 2,000 square feet or less
  • Not have market value in excess of the applicable area loan limit
  • Not have in-ground swimming pools
  • Not be designed for income producing activities
  • Borrowers are required to repay all or a portion of the payment subsidy received over the life of the loan when the title to the property transfers or the borrower is no longer living in the dwelling.

Ready to apply for a USDA Home Loan in Crestline, California, please call Nathan Rufty at 909-503-5600.
Posted by Nathan Rufty on March 14th, 2019 4:55 PM

USDA Home Loans in Cherry Valley, California

Cherry Valley, California USDA stands for United States Department of Agriculture. USDA mortgages provide low-cost insured home mortgage loans with no down payment requirement. A USDA mortgage might be right for you if you are interested in buying a rural property as your primary home with a low out of pocket investment

USDA Home Loans in Cherry Valley, California

Why USDA Loans in Cherry Valley, CA

USDA Guaranteed Rural Housing Mortgage USDA Guaranteed Loans are the most common type of USDA mortgage and allow for higher income limits and 100% financing for home purchases.  USDA in Cherry Valley, CA guaranteed Loan applicants may have an income of up to 115% of the median household income for the area.  Area income limits for this program can be viewed here.  All USDA Guaranteed Loans carry 30 year terms and are set at a fixed rate.  We can help you with this type of loan. USDA Direct Rural Housing Mortgage USDA Direct Housing Loans are less common than USDA Guaranteed Loans and are only available for low and very low income households to obtain home ownership, as defined by the USDA. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI. We cannot help you with this type of loan.


USDA Benefits in Cherry Valley, California

  • USDA Loans require NO money down – up to 103.5% financing (includes funding fee).
  • Closing costs can be rolled into the loan or paid by the seller.
  • There is NO maximum loan amount.
  • You do NOT need assets to qualify.
  • Qualifying for a USDA loan with lower credit scores is possible.  (Current min required credit score is 640)
  • USDA Mortgages are secure 30-year fixed terms at low market interest rates.
  • USDA Loans are for ANY new & existing single family residence located in a USDA eligible area.
  • Property being purchased can be a regular sale, short sale, foreclosure home, etc.

Ready to see if you qualify for USDA Home Loan? Call Nathan Rufty at 909-503-5600 for a free consultation.
Posted by Nathan Rufty on March 6th, 2019 3:52 PM

Perhaps you feel more at home surrounded by pastures than pavement. If so, buying a home might be well within reach, thanks to the U.S. Department of Agriculture mortgage program. In fact, the USDA might have one of the government’s least-known mortgage assistance programs.

Usda home loans in Adelanto ca


 

A USDA home loan is a zero down payment mortgage for eligible rural and suburban homebuyers. USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture.

 

USDA Home Loan Income Limits Adelanto, California

 

  • NO down payment – Finance 100% of your home
  • NO maximum loan amount in Adelanto, California.
  • NO assets needed to qualify
  • Flexible credit guidelines
  • Competitive, fixed interest rates so payments do not increase
  • USDA Loans are for new and existing properties
  • Start your Alabama USDA home loan now! Just fill out this quick form to get started & a USDA loan specialist will contact you with your options.

 

How USDA loan programs work

 

There are three USDA home loan programs:

 

Loan guarantees: The USDA guarantees a mortgage issued by a participating local lender — similar to an FHA loan and VA-backed loans — allowing you to get low mortgage interest rates, even without a down payment. If you put little or no money down, you will have to pay a mortgage insurance premium, though.

 

Direct loans: Issued by the USDA, these mortgages are for low- and very low-income applicants. Income thresholds vary by region. With subsidies, interest rates can be as low as 1%.

 

Home improvement loans and grants: These loans or outright financial awards permit homeowners to repair or upgrade their homes. 

 

Qualifying for a USDA-backed mortgage guarantee

Income limits to qualify for a home loan guarantee vary by location and depend on household size. To find the loan guarantee income limit for the county where you live, consult this USDA map and table.

 

USDA guaranteed home loans can fund only owner-occupied primary residences. Other eligibility requirements include:

 

  • U.S. citizenship (or permanent residency)
  • A monthly payment — including principal, interest, insurance and taxes — that’s 29% or less of your monthly income. Other monthly debt payments you make cannot exceed 41% of your income. However, the USDA will consider higher debt ratios if you have a credit score above 680.
  • Dependable income, typically for a minimum of 24 months
  • An acceptable credit history, with no accounts converted to collections within the last 12 months, among other criteria. If you can prove that your credit was affected by circumstances that were temporary or outside of your control, including a medical emergency, you may still qualify.

 

To apply for a USDA home loan in Adelanto, California please call Nathan Rufty at (909) 503-5600

Posted by Nathan Rufty on February 27th, 2019 5:04 PM

USDA in Kingman, AZ has been in the real estate business for years. The program was initially designed to stimulate rural development and assist the agriculture community with housing. Agricultural stimulus packages are a long standing pillar of US economic policy going back to the turn of the last century. In fact, most our early prominent government economists were from the agricultural school. A famous alumnus of this school was John Kenneth Galbraith. USDA guaranty loans were designed as a modest program to provide housing in areas that large lenders shunned.

Who does the USDA home loan in Kingman, AZ


Most USDA Rural Loans are made for 30 years although longer terms might be allowed. The interest rate for these loans is typical in line with the current market rate of other traditional loans. Although loans will only be made in Rural Development approved areas, you might be surprised what areas actually qualify. The bottom line is that it doesn't mean that you have to purchase a farm in order to qualify for a USDA mortgage.

USDA Home Loans in Kingman, AZ Benefits

The USDA Loan offers many unique advantages in Kingman, AZ over traditional loans:

 

  • No monthly mortgage insurance (or PMI - Private Mortgage Insurance)
  • No assets or reserves required (In Most Cases)
  • 100% financing or No Money Down
  • The Seller may be able to pay some or all of your closing costs.

 

USDA Loans in Kingman, Arizona are processed similar to an FHA loan. Lenders authorized to make and sell USDA loans will process and underwrite the loan. Guidelines are much more flexible so there is a degree of common sense underwriting. Loans are then sold to Wall Street with the USDA guaranty fee.

 

This is a great loan for first time homebuyers, or anyone, looking to move into the suburbs at extremely beneficial terms. This is a much better program than even the sub-prime loans of the last 5 years.

 

This is also a great loan for seniors looking to retire to country, buying a home and some acreage.

 

The down side to this great opportunity is that the USDA will soon update their maps and the hot areas are sure to lose their designation as rural.

 

Check out our website below for more information and USDA resources, or call us with your questions at 623-850-1210.

Posted by Nathan Rufty on February 20th, 2019 10:23 PM

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