NORTH Idaho Real Estate Pro

head_left_image

USDA Guaranteed Rural Housing Program - 102% Financing - No Mortgage Insurance

USDA Guaranteed Rural Housing Program - Home Financing Options

Home Financing Options
Are you ready to own a home but are not sure you will qualify due to lack of a down payment?   
Rural Development may be able to help you!  USDA Rural Development has partnered with local lenders to help them extend 100% financing opportunities to rural individuals and families.

  •  No down payment required 
  • No expensive monthly mortgage insurance means you may qualify for a larger loan.
  • Flexible credit and qualifying guidelines.

The Rural Development guaranteed loan program has assisted thousands of customers just like you.  Tell your mortgage lender you want the USDA Rural Development Guaranteed Housing Loan.
  •  No Down payment is required.
  •  Flexible credit score guidelines.
  • No maximum purchase price limit.
  • Closing costs can come from any source including gifts.
  •  Repairs and improvements can be included in the loan.
  •   Competitive fixed 30-year rates.
  • Apply with a local participating lender of your choice.
  • Occupy the property as your primary residence.
  • Do not own an adequate home.
  • Do not have sufficient cash for a 20% down payment plus pay typical loan closing and relocation expenses.
  • Be a U.S. citizen, a U.S. non-citizen national or a "qualified alien". 
  • Provide stable and dependable income for repayment ability.
  • Have a credit history that indicates a willingness to meet obligations as they become due.
  • Have an adjusted household income that is within Rural Development guidelines based on the number of persons who will occupy the home.  
  • Purchase a residential property that is located in a Rural Development eligible area
No mortgage insurance saves you a lot of money.  Mortgage insurance raises your monthly payment, which REDUCES the amount of a home loan you may qualify to purchase.  Guaranteed loans may allow you to qualify for a newer or larger home to meet your needs 
    • Did you know that the typical mortgage insurance premiums for the first 10 years on a $100,000.00 loan could cost you $6,000 or more?  The mortgage insurance can continue beyond the 10 years.  The cost of Rural Development's guarantee is only $2,000.00 on a $100,000.00 loan. 
    • No mortgage insurance allows you to qualify for a larger mortgage amount. 
  • There is little or no cash required for a down payment or closing costs in most cases.
  • Determine if the property is within the Rural Development eligible area. 
    • Use the link "Single Family Housing" under "Property Eligibility". 
  • Determine if your  adjusted household income is within the Agency limits,
    • Use the link "single family housing" under "income eligibility"
  • Rural Development Nationally Approved Lender List - Any lender may participate in the program regardless of Rural Development approval status.  Contact Rural Development for assistance.
Even though you will not be applying directly to Rural Development for the loan, you may want additional information.  Or perhaps you will want to pass along the Rural Development contact information to your realtor or builder, or loan officer.
    • The Rural Development Office Locator website is:  http://www.rurdev.usda.gov/recd_maps.html  Or you can go to the home page of Rural Development for your state to find a listing of their offices.
    • You can always look them up in the telephone directory blue pages under "United States Department of Agriculture", and then look for "Rural Development" or "Rural Housing Service.
Educate yourself on the Guaranteed Loan Program by reviewing all of the information on this site and the "eligibility" web site.
  • Set up an appointment with the mortgage lender of your choice for your pre-approval determination. The Agency maintains a list of nationally approved underwriting lenders.  Any branch of these lenders can accept your application. 
  • If you have any questions, contact your local Rural Development office.

 

This program is a government insured home loan program for low-tomoderate income borrowers looking to purchase a home in a rural development area.
Eligile in Non-Metropolitan areas, outside city limits - population of 25,000 or less (Post Falls, Rathdrum,  Hayden norh of Lancaster Rd or West of Atlas Rd, Athol, Worley, Harrison, etc.)
102% Financing - No Monthly Mortgage Insurance
30 year fixed rate loan
One time guarantee fee of 2.0% of loan amount
No reserve requirements
Priary residence ONLY - Must NOT own other real estate
Single family residence or RD eligible condo/PUD, manufactured home must be new and RD approved
Income Limits: 
Coeur d'Alene, ID  RHS LOW INC 1-4 persons = 44100, 5-8 persons = 58200
Coeur d'Alene, ID RHS MOD INC -GUARANTEED LOAN 1-4 persons $73,600,  5-8 persons $97,150    

Please contact me with any of your Real Estate / Relocation / Referral needs:

Coeur d'Alene, Idaho - City by the Lake

Pam Jank, Realtor, GRI, CRS, ABR, RRS, PPS
Previews Property Specialist
Your North Idaho Real Estate Pro
FREE MLS Listings Search at:
Web:  Coeur d'Alene Idaho Homes for Sale
email to:pamjank@hotmail.com
Phone:  208-661-2282
Fax:  208-772-628 Toll Free:  800-829-2555 EXT.1275
COLDWELL BANKER SCHNEIDMILLER REALTY
435 W. Hanley Avenue
Coeur d'Alene, ID  838315

 


CONTACT INFO:

Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)Pam Jank, CRS, GRI, ABR, CNE, RRS, Realtor(c)
Your North Idaho Real Estate Pro
www.SellingNorthIdaho.com - Your Free Local MLS Property Search Link
208-661-2282 or Toll Free 800-829-2555 ext. 1275
Coldwell Banker Schneidmiller Realty
1924 Northwest Blvd, Coeur d'Alene ID 83814
 

 

property.contact_company
Equal Opportunity HousingEqual Opportunity Housing

 Lake Coeur d'Alene

Comment balloon 3 commentsPam Jank • May 21 2009 08:07AM
USDA Guaranteed Rural Housing Program - 102% Financing - No Mortgage…
share
USDA Guaranteed Rural Housing Program - Home Financing Options Home Financing Options Are you ready to own a home but are not sure you will qualify due to lack of a down payment? Rural Development may be able to help you! USDA Rural… more
Home Buyer Tax Credit CAN be used for Down Payment in IDAHO - Here is…
share
IHFA's Down Payment Assistance Tax Credit Advance - TAX CREDIT 2nd LOAN The American Recovery and Reinvestment Act of 2009 provided a federal income tax credit for first-time homebuyers of 10% of the sales price, up to a maximum of $8, 000… more
How Much Does it Cost to Build a Home? " - Answers to that…
share
It is not unusual to have the question "How much does it cost to build a home " directed at me. I wish there was a simple answer. However, it is far from simple. Let's start with the type Floor Plan/Style your home will have. Do… more
Avondale Golf Course Calendar of Events - May through June 2009 -…
share
Avondale Golf Course - Calendar of Events for May and June 2009 Avondale Golf Course - Calendar of Events May - June 2009 Dates to Remember… See you there! The 18-hole "Avondale" course at the Avondale Golf.. more
Ladies' Night! Benefit for Cancer Community Charities - Wed May 20th,…
share
Renew Ladies' Night… "CCC's" Benefitting Cancer Community Charities! Wednesday, May 20th 6-8:30 pm @ 315 Martinis & Tapas Greenbriar Inn 315 Wallace, Coeur d'Alene ID… more
The "Stress Results" for US Banks are in - TARP Billions…
share
The "Stress Results" from the supervisory Capital Assessment program shows that some of the Largest US Banks are stable while 10 of the Biggest need a total of about $75 Billion in new capital to withstand losses if the Recession worsens!.. more
Coeur d'Alene Idaho - Calendar of Events - Weather Forcast - Time
share
COEUR d'ALENE CALENDAR OF EVENTS MAY 2009 Coeur d'Alene ID - Weather Forecast and Time May 2009… more
Postal Rates are going up AGAIN!! - Still Time to purchase "…
share
Postal Rates are going up again! On May 11th the price of a stamp goes up to $44 cents for 1oz. $. 61 cents for 2oz. However, there is still time to purchase the "Forever Stamp" priced at $. 42 cents per stamp (1oz) It is good "… more
May 2009 - Calendar of Events - Coeur d'Alene Idaho
share
May 2009 - Calendar of Events - Coeur d'Alene, ID Spring is finally here! Get up and get going to the many local events and happenings in our community. There is lots to do and see in Coeur d' Alene this month! &… more
Coeur d'Alene Summer Theater - 2009 Season - Productions - Tickest on…
share
Coeur d'Alene Summer Theatre is Proud To Announce it's 2009 Season! We are so fortunate to have such wonderfull productions in our community. Let's keep them alive with our support! Call to Reserve Your Season Tickets Today Single… more
Coldwell Banker - First in Industry - Youtube Channel - Video Real…
share
NEW COLDWELL BANKER ‘ON LOCATION' YOUTUBE CHANNEL FIRST IN INDUSTRY TO FULLY TAP POWER OF VIDEO FOR REAL ESTATE SEARCH AND INSIGHTS First Branded YouTube Channel to Use Dynamic IP Lookup to Generate Specific Local Results and Help Consumers Learn… more
Lake Coeur d'Alene Panoramic Views - 15 acre Estate Sites - Blackrock…
share
Lake Coeur d'Alene Panoramic Lake Views - 15 Acres - Black Rock Ranch - Coeur d'Alene, ID Blackrock Ranch Road, Coeur d… more
Lake Coeur d'Alene View Lots for Sale - $54, 500 and $99, 900 - for…
share
Lake Coeur d'Alene & River Views - 28 acre for $54, 500 or 56 acre for $99, 900 286 N. Frederick Ave - Historic City of… more
Bank Owned - Golf Course Lot for Sale - Prairie Falls Golf Course -…
share
Home Page Photo Gallery .. more
Hayden Lake Country Club - Golf Course - Home for Sale - Hayden Lake,…
share
1336 E. Hofmeister Court Hayden Lake, ID 83835 Newer Hayden Lake Country Club Golf Course Home … more
2009 Events Calendar - North Idaho
share
2009 Events Calendar for North Idaho Kootenai, Benewah, Shoshone, Bonner and Boundary Counties (including Coeur d'Alene, Post Falls, Hayden/Hayden Lake, Rathdrum, Athol, Harrison, St. Maries, Sandpoint, Bonners Ferry, Nordman, etc. )… more
Calendar of Events - April 2009 - Coeur d'Alene, ID
share
April 2009 - Calendar of Events - Coeur d'Alene, ID The snow is mostly gone and Spring is finally here. Get up and get going to the many local events and happenings in our community. There is lots to do and see in Coeur d' Alene this… more
The 2009 Swish 3-on-3 Tournament is Hoping for larger "Slam Dunk…
share
The 2009 Swish 3-on-3 Basketball Tournament is Hoping for an even larger "Slam Dunk" August 8 - 9, 2009, in Bonners Ferry, Idaho Mark your calendars and join the fun at the 2nd annual two-day hoopfest in the main streets of… more
Coeur d' Alene is once again Praised by a National Magazine! This…
share
Another National Magazine Lauds Coeur d'Alene, ID This piece was done to highlight travel destinations for tourists looking to find getaways off the beaten path. The famous cook Rachel Ray praised Coeur d'Alene, ID in the April… more
Attention ALL Dogs and their Humans! 6th Annual Canine Caper - May 9,…
share
Attention All Dogs and their Humans! 6TH ANNUAL CANINE CAPER 5K Run/Walk for Dogs & Humans WHEN: Saturday, May 9, 2009 TIME: 10:00 am WHERE: BOUNDARY COUNTY FAIRGROUNDS - Bonners Ferry, Idaho All Proceeds Go To… more