I'm back again! Here's a link for the USDA Rural Development Housing Loan program...

http://eligibility.sc.egov.usda.gov/eligibility/welcomeActio…

Just another loan program you might want to look into! You can plug in an address to see if it qualifies.

Laura Giannotta

Thanks to all for your advices and thanks words. i am part of the new jersey national guard, and we will be returning shortly home. a lot of us are moving, buying or selling their homes. will be great to have realtors a nd mortgage people around to help, at least i was lucky and went to the housing partnertship of morriscounty, and found a realtor lady to run around with me. but that help will not be available to the big mayority. thanks for your help, as i see building my own is not feasable at the moment.

Hello Nelrodes,

Actually since my hgusband happens to be a loan officer for Weichert and is quite familiar with the rural housing loan. Although Morris and Essex county might be out Warren is a possibility. Their is a specific map to look at once you are ready to come up here and look.

I'm not an agent in the areas you're looking, but I wanted to say thank you for your service. Come home safe and soon!

Laura Giannotta
Keller Williams Atlantic Shore

Hi Nel,

Forget Morris and Essex. New construction with a $200,000 mortgage is not going to happen. You need a budget of $500,000 or more to build a house in those areas. You might possibly be able to do something in far western Warren County near Pennsylvania, or even in eastern Pennsylvania. But any closer to New York and it's not going to work.

-Marc

Nelrodes,

I'm a licensed loan officer in NJ. VA is your best bet right now. VA allows for 100% financing with no monthly PMI(private mortgage insurance) You will pay a onetime VA funding fee. If you negoiate right you can have your closing costs paid by the seller. In terms of building. You'll likely have to already own the land to build. Not many banks are giving land loans and if so you will have to pay a hefty downpayment. I'm not familiar with the areas of your interests but I can likely say that the values of the homes in the areas you are looking are much more costly than your approval. If you need assistance with your loan or want to get more bang for your buck by coming down to South Jersey I'd be happy to assist you.

Best Regards,

Jeremy S. Hill, Realtor Associate, Mortgage Consultant
Keller Williams Realty, Aurora Financial Group, Inc. http://www.YourPhillyHomeSearch.com http://www.SouthNewJerseyHomes.com
Office: 856.685.1651
Direct: 609.876.5817
Fax: 609.482.8235
Licensed PA, NJ
"Your Interest 1st Always"