How to Obtain a No Money Down Mortgage in Wisconsin: USDA Rural Housing

PRLog (Press Release) - Mar 14, 2009 -
Wisconsin USDA Rural Home Loans have a HUGE advantage in today’s Real Estate market. We’ve all heard these terms…

NO MONEY DOWN! ZERO DOWN! 100% Home Loan Financing!

These options for financing a home are no longer available with conventional financing or through FHA home loan financing. The best option for buying a home with No Money Down is with the USDA Rural Development Home Loan or the VA Home Loan programs, which will fund up to 102% of the appraised value.

The USDA Rural Development Home Loan advantages:

• No down payment required.
• No Mortgage Insurance.
• No cash reserves required.
• No Prepayment Penalty
• Loan up to 102%* of appraised value allowed…not the lesser of Sale Price or Appraisal
• Loan amount can include closing costs and prepaids up to appraised value.
• No stated maximum loan amount; maximum loan based on repayment ability
• No First Time Home uyer Requirement
• New and existing homes OK
• Fully amortized 30-yeBar fixed rate loan
• 100% gifted closing cost or down payment assistance is permitted.
• No derogatory credit explanations required when credit score is 620 or above.
• Rent is not verified with FICO of 620 or more.
• Competitive rates

There are income and location limits for this program.

Visit our Rural Housing Mortgage Program page on our website to view location and income eligibility http://www.madisonmortgageguys.com

Inlanta Mortgage is your Wisconsin Rural Housing Mortgage Banker:

Brian Collins
Toll Free: 877-240-5810 x106
brian.collins@madisonmortgageguys.com
http://www.madisonmortgageguys.com

Visit my blog at http://www.madisonmortgageguys.com/blogs_brian_collins/

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