100 financing: USDA Rural Development Loan News - Eligibility Map Changes Postponed - 04/07/13 11:46 AM
  View RSS feed close [x] UPDATE May 30, 2014 For more that 2 years USDA has been setting and then postponing the implementation date for USDA Rural Development property eligibilty maps to change.  The change is part of an effort to re-define the definition of "Rural" and when it is finally implemented it will affect almost 1/3 of North Carolina, including popular currently eligible areas such as Mooresville, Mount Holly and parts of Concord.  At this time USDA Rural Development Eligibility Maps are scheduled to change on October 1, 2014.    NOW is the time to act if you would like to take advantage of this wonderful loan program offering NO MONEY … (6 comments)

100 financing: BB&T's 100% Financing, No PMI "CHIP" Loan - 05/09/09 11:32 AM
Since the mortgage crisis started in the Spring of 2008, 100% financing loan programs have become few and far between.  Here are a few details of a relatively new program that BB&T is offering, it seems like a great program for qualifying buyers.
The program is called Community Homeownership Incentive Program or "CHIP" for short.  Qualifying buyers can get up to 100% financing (NO MONEY DOWN) with NO PMI (Private Mortgage Insurance). 
 
Loan amounts up to $417,000.00 Maximum income limits:   97% financing - $66,500.00, 100% financing - $53,200.00 household income.  No income limits in HUD designated underserved areas. HUD designated underserved areas can be … (16 comments)

100 financing: Rowan County & Salisbury/Kannapolis NC - USDA Rural Development Home Loans - 04/29/09 07:43 AM
Since News Channel 36 did a report on USDA Rural Development loans last week, it has been a HOT topic in our area.  I've helped my clients utilize this program for years, so I decided to share the basics concerning USDA Rural Development loans in Rowan County North Carolina. 
The USDA Rural Development agency (yes, the United States Department of Agriculture) has two different loan programs, Direct and Guaranteed.  Eligibility for both types of Rural Development loans is determined based on household size, income and the buyer's credit worthiness.  Both programs are 100% (NO DOWN PAYMENT) loans with NO MORTGAGE INSURANCE.  FHA loans and Conventional loans … (1 comments)

100 financing: Iredell County & Mooresville NC - USDA Rural Development Home Loans - 04/25/09 06:23 PM
News Channel 36 did a report on USDA Rural Development loans last night.  It said that the program is "little known", but I've known about it and helped my clients utilize the program for years. 
The USDA Rural Development agency (yes, the United States Department of Agriculture) has two different loan programs, Direct and Guaranteed.  Eligibility for both types of Rural Development loans is determined based on household size, income and the buyer's credit worthiness.  Both programs are 100% (NO DOWN PAYMENT) loans with NO MORTGAGE INSURANCE.  FHA loans and Conventional loans with less than 20% down payment require mortgage insurance, which is … (7 comments)

100 financing: Cabarrus County & Concord NC - USDA Rural Development Home Loans - 04/25/09 10:46 AM
News Channel 36 did a report on USDA Rural Development loans last night.  It said that the program is "little known", but I've known about it and helped my clients utilize the program for years. 
The USDA Rural Development agency (yes, the United States Department of Agriculture) has two different loan programs, Direct and Guaranteed.  Eligibility for both types of Rural Development loans is determined based on household size, income and the buyer's credit worthiness.  Both programs are 100% (NO DOWN PAYMENT) loans with NO MORTGAGE INSURANCE.  FHA loans and Conventional loans with less than 20% down payment require mortgage insurance, which is … (1 comments)

100 financing: USDA Rural Development DIRECT Program - New Fiscal Year - 10/03/08 11:20 AM

The new fiscal year for the USDA Rural Development DIRECT loan program began on October 1, 2008.  At this time Congress hasn't appropriated funds to this program, but they expect to receive their first alotment of funds before the end of October.  Unfortunately, the demand for this program is great and funds aren't always available.  For many buyers it can be well worth the wait though! 
Buyers should apply as soon as possible to get on the waiting list to receive loan funding, since it takes approximately 30 days to receive a response once you submit your application.  If the buyer is approved they will … (2 comments)

100 financing: Iredell County NC - NO MONEY DOWN - NO PMI - USDA Rural Development - 09/14/08 10:30 PM
 
USDA Rural Development Guaranteed Loans are available for low to middle income owner occupant borrowers.  It is a 100% loan to value program... that's right there are still a few NO MONEY DOWN programs available.  This loan also has NO PMI!
Although eligibility for this loan program is usually limited to the more rural areas of each county... ALL locations in Iredell County North Carolina are eligible for the USDA Rural Development loan program EXCEPT for the city limits of Statesville!  This means that even homes located within the city limits of Mooresville NC are eligible for this 100% - NO MONEY DOWN - NO … (0 comments)

100 financing: USDA Rural Development DIRECT Loans - Subsidized Payment Loan Program - 08/21/08 02:46 AM
   
Do you know someone who has a job and works hard, but their income isn't high enough to afford a well maintained home in an area desireable to them?  If so, the USDA Rural Devolopment DIRECT Loan Program may be the perfect loan program for them.  This is a 100% financing (NO DOWNPAYMENT), no Mortgage Insurance, government subsized loan program!  I've seen this program dramatically change the lives of families for the better by helping them purchase a nicer home, than would have been possible using traditional financing programs, with an affordable payment.
CLICK HERE to view details about the USDA Rural Development … (163 comments)

100 financing: USDA Rural Development Guaranteed Loans... One of the Few 100% LTV - No PMI Loans Available - 05/27/08 02:31 PM
     
Not many Realtors in Concord NC and the surrounding areas are aware of this great loan program offered by the USDA.  I suspect the same is true in other states across the country.  This program is very similar to the Farmer's Home Administration Loans that used to be offered by the USDA.
USDA Rural Development Loans are available for low to middle income owner occupant borrowers.  It is a 100% loan to value program... that's right there are still a few NO MONEY DOWN programs available.  This loan also has NO PMI!
Only a few lenders are qualified to underwrite these loans, so make sure … (19 comments)

 
Cheryl Powell, The Powell Team- Helping YOU make the right move! (RE/MAX Executive Realty - The Powell Team) Rainmaker large

Cheryl Powell

The Powell Team- Helping YOU make the right move!

Harrisburg, NC

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RE/MAX Executive Realty - The Powell Team

Address: 7752 Gateway Lane, Suite 204, Concord, NC , 28027

Mobile: (704) 363-8902

Office: (704) 979-7028

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I provide professional real estate services to Buyers and Sellers in Greater Charlotte NC, including Concord, Harrisburg, Kannapolis, Mooresville, North Charlotte, Salisbury and surrounding areas. My specialties include: Resale Homes - New Construction - Relocation - 1st Time Buyer Programs - Investments - Foreclosures - Short Sales. I have the experience, knowledge and dedication that it takes to get the best results. Contact me anytime to discuss your real estate needs! ActiveRain Real Estate Social Network


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