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South Riding : Real Estate Advice

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Activity 2
Wed Sep 26, 2012
answered:
Hi Firsttimer,

South Riding is an area that's eligible for the no money down USDA Mortgage.

One of the best things about this mortgage is the monthly mortgage insurance is substantially less than an FHA or conventional mortgage and that's with no money down.

Here's an example: An FHA mortgage of $155,000 is going to have a monthly mortgage insurance payment of $161.45 but on a USDA mortgage it's only going to add $51.66 to your monthly payment.

The other nice thing is you can actually roll your closing costs into the loan as long as the appraised value supports it.

Please feel free to contact me for more information or help. You can also find info on my USDA Mortgage website by clicking the link below.

John Burke
Senior Mortgage Banker
Peoples Bank & Trust
(877)228-9069
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Fri Feb 19, 2010
Debra (Debbie) Rose answered:
Pat - I see you're an agent..................is this your personal home you are asking about, or a client's home...or was this more of a generic question to get other opinions?

If it's your own home, it's kind of interesting that you, as an agent, want to know whether you should llist now or wait.
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