100% of the purchase price, $0 down.
Non-traditional trade lines.
Qualifying with no cash reserves or seasoning requirements!
Unlimited seller concessions.
Fixed Interest Rates.
Both new and existing homes.
No maximum loan amount.
Actually all I work with is realtors and that is my preference. I have made a lot of friends over the years working with agents and enjoy working as a team with them.
If I ever have anyone in PA looking for a home I would be more than happy to have them look you up. Take care a have a great day!
The fees I listed are accurate and is what has been in place since October 1st 2011. Here is a link to the Administrative Notice directly from the USDA that came out last year outlining the fees: http://www.rurdev.usda.gov/SupportDocuments/an4551.pdf
If your lender is not able to provide you with up to date information please feel free to contact me and I will be happy to get you up to speed. Thank you.
Elliott R. Oliva
Primary Residential Mortgage, Inc.
There is plenty of opportunity to find a home that will qualify for an USDA Loan in Coatesville and all over Chester County. THere is a great website you can go to to check and make sure that the property you are interested in would qualify. There are plenty of areas to search. If you have any questions, feel free to contact me and I will be glad to send you in the right direction. I had one client in the Valley Township buy a fantastic home last summer and one up in the Pottstown area as well. Both used the USDA program. There is no pmi with the usda loan but there is an up front fee of 3.5% that can be included if you do not pay that up front. This is a great opportunity to purchase a wonderful home with little or no money down. Feel free to call me at 484-678-9151 and I can share more...... all the best, Kim Esposito
Weichert, Realtors, Paoli
The guarantee fee of 2% at closing that can also be financed into the loan up 102% LTV.
The other fee which some may call "PMI" is an annual fee of .30% of the remaining principal balance that comes out to $450 per year on a $150,000 loan. That comes out to 37.50 added to the payment.
That fee is to help fund the program since every year the program runs out of funds and we have to wait for the clowns in congress to approve funding for it.