Home Loans California & Arizona

What Mortgage Broker in California offers the USDA Home Loan to buy a house with no money for the down payment. USDA Purchase Home Loan Program is for you.

I have spoken to many home buyers through out my lending career and the vast majority would like to buy a house with as little money as possible both for the down payment as well as the closing cost. There are home loan programs still available today that offer 100% financing to purchase a home on a 30 year fix rate term.

Every county in California offers the USDA home loan program (maps do change at times) Go HERE to check available areas in each county below.

Alameda County
Alpine County
Amador County
Butte County
Calaveras County
Colusa County
Contra Costa County
Del Norte County
El Dorado County
Fresno County
Glenn County
Humboldt County
Imperial County
Inyo County
Kern County
Kings County
Lake County
Lassen County
Los Angeles County
Madera County
Marin County
Mariposa County
Mendocino County
Merced County
Modoc County
Mono County
Monterey County
Napa County
Nevada County
Orange County
Placer County
Plumas County
Riverside County
Sacramento County
San Benito County
San Bernardino County
San Diego County
San Francisco County
San Joaquin County
San Luis Obispo County
San Mateo County
Santa Barbara County
Santa Clara County
Santa Cruz County
Shasta County
Sierra County
Siskiyou County
Solano County
Sonoma County
Stanislaus County
Sutter County
Tehama County
Trinity County
Tulare County
Tuolumne County
Ventura County
Yolo County
Yuba County 

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The USDA purchase programs is one of the most under 
utilized home loan program in California to buy a house. One of the reason why is not to many home buyers know about the program and not enough real estate agents are informed about the program to present it properly to their buyers. The USDA home loan program is designed to create home ownership to rural areas of a county, not every area in a particular s approved for this program, if you have not done so already click on the link HERE and watch a video a on how to fine the approved areas to buy a house utilizing the USDA home loan program in California.

Here are some of the benefits about the USDA loan program in California.

The benefits to this program are: 

  • No money for the down payment (will have to come in with a little money to open escrow with and you will need to discuss that amount with your real estate agent)

  • If the appraised value comes in higher than the agreed purchase amount, we can use that extra equity to finance your closing cost

  • Also, if elected the seller can contribute up to 6% of the purchase amount towards the buyers closing cost

  • No limited to first time home buyers, can not own or be on title of any other residential property at the time of closing escrow on the USDA loan

  • No prepay penalty, can pay off the loan at any time without a penalty

  • Very small monthly mortgage insurance, the MI will remain through out the term of the loan

  • No Maximum purchase amount, still need to qualify for the payment within the required debt to income ratio 

  • Primary purchase only, can not be used to buy a 2nd home or an investment property

  • Interest rates are just as low as other home loans that require money for the down payment

There are 2 other points to the USDA home loan program in California:
  • Must buy a house in a designated approved lending area in the county you are looking to purchase in, watch the video in the 2 clickable HERE links to locate the approved areas in California
  • There are income limits per county based on your family size, which are pretty healthy income amounts click HERE to determine income qualifications 
This is a great purchase program to own a home in a designated area. I would like expand further on the what it take to qualify for this type of financing but guidelines change from time to time and do not want to have something written down in a blog and then next year something changes. Do not want you to think that is set in stone, USDA does update lending area, income limits, qualifying ratios, monthly mortgage insurance (at the moment it is much lower then FHA's and Conventional's mortgage insurance), credit scores adjustments, reserve requirements and upfront USDA funding fee. 

I welcome the opportunity to discuss the USDA loan program in California with you and review current lending standards. If you have watched the video (link just in case http://www.youtube.com/watch?v=j33JieIYaGY) and found an area you would like to buy a house in, let's connect and review your income and credit. 

We specialize in making home ownership a reality and the USDA home loan program in California makes that a reality. With this no money down purchase program it is ideal for the first time home buyer with limited funds to the boomerang buyer who owned a home before and may have lost it through a short sale or foreclosure, this program is a prefect start towards home ownership again. 

Do not delay your option with the USDA home loan program, you may be surprised on what you can qualify for. Explore your options and call me at 909-503-5600 or email me at info@NathanRufty.com. I look forward in hearing or speaking with you about your plans of owning a home with the USDA loan program In California.
Posted by Nathan Rufty on September 12th, 2015 9:37 PM

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