Â It is easier now then I have seen inÂ long time to buy a home. Currently, the USDA program is in effect that gives buyers the opportunity to have no down payment and roll closing costs into the loan as long as the property appraises for the value of the total loan. These loans are for buying in the county like Warrick or Posey and Gibson. They cover pretty much most counties in Southern Indiana excluding Vanderburgh, although there are a couple of townships in Vanderburgh that do qualify.
Â The home must not be a modular but does not have to pass the FHA inspections so short sale as is properties will work. Total income in the household can not exceed $75,000 a year. From what I have seen, these loans can be given to people with a credit score as low as a 620. There are programs for FHA which requires a 3.5% down payment at a 600 credit score. This gives many people who didn't think they could buy a home the opportunity. Most of the homes I have sold have been USDA loans and they are a great loan option without monthly mortgage insurance payments.
Â Anyone who would like more information in obtaining a loan or buying a new home or selling an existing loan, Please call me at 812-568-2274. I also have a great contact that will build homes on your lot at great prices and great quality work. Thank you.
Laurie Rosenbaum Caldwell