No Down Payment Mortgage Worth Considering

April 19th, 2009 category: Buyers, Real Estate News

With so many first time buyers exploring the possibility of home ownership on Long Island, the following link provides a way to purchase a home with no down payment if the ratio guidelines are followed, and the property falls within the boundaries offered for this financing.

Locations that offer the opportunity for a USDA Loan are provided on the USDA loan website, which can be found here.

Along with the loan parameters, also offered for home buyers are the ratios (house payment vs. pre-tax income) required, which will provide some guidance for the purchase price of a home.

Talk with your lender to see if this program might work, or view the details at:

http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=pageLoad&urlToLoad=http://www.rurdev.usda.gov/rhs/sfh/brief_rhdirect.htm&NavKey=loan@11

This entry was posted on Sunday, April 19th, 2009 at 11:25 pm and is filed under Buyers, Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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