100% Financing Available For Homes In Rural Areas
For those individuals who may be considering a move to Jackson, Barrow, or other rural counties we have great news for you! The Rural Development Housing Program has a mortgage product that can offer a 100% loan with no mortgage insurance.
There is a 2% funding fee for this loan that can be financed, so it is actually a 102% loan. Loan amount can be based off of appraised value rather than sales price, so any repairs can be financed on top of the sales price as well as any closing costs the seller is unwilling to pay. The buyer, however, can't get cash out at closing. There are geographic limitations as well as income limitations. The income limitation is based on the household income, not just the income used to qualify for the loan. Rates for this loan are in the mid-5s right now.
This is such a unique and wonderful program. Please don't hesitate to contact our team to learn more about this program and to get started with the homebuying process. Visit us on the web at www.AtlantaAtHome.com, call directly 678-268-3300, or email us at Info@TMARealEstate.com