At the Jersey Shore 07760 Rumson Sea Bright and more

Wednesday, July 03, 2019

Fwd: No Down Payment Required! USDA Loan Program

Are you aware that on a USDA Loan Program, there is no down payment required! Also, on this program, if appraised value comes in higher than the contracted purchase price, a portion of the excess value can be used for the buyers closing costs and escrows. If you are interested in searching for a property if it qualifies in a USDA eligible area, here is the website. Just enter the address in the search bar, and it will dictate whether the property is eligible.

https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp

Here are some bullet points for the program:

No Down Payment required
Minimum 620 credit score required
Usually max 43% to 45% debt to income ratio
Borrowers household income cannot exceed a certain amount set forth by USDA. This is also available in a search engine on the website I provided.
6% sellers concession allowed
Available on purchase or rate and term refinance
Available on primary residence only
Available on single family or condos only
Reduced Mortgage insurance as compared to conventional or FHA

If you have any questions or any prospective borrowers, please do not hesitate to contact me.

Have a wonderful day!

Thank You!

Dominic DiGrazio | Mortgage Loan Originator

Classic Mortgage, LLC

25 East Spring Valley Avenue| Maywood, NJ 07607

Main: 201-368-3140 ext. 30 | Fax: 201-909-5839

Cell: 973-356-5333

NMLS # 204838| Company NMLS # 31149

ddigrazio@classicmortgagellc.com

www.linkedin.com/in/dominic-digrazio-14373343/

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Friday, April 26, 2019

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