Lake Charles Louisiana Mortgage 100% Financing Available

By
Real Estate Agent with Marilyn Boudreaux, Century 21 Mike D. Bono & Co.'s

USDA RURAL DEVELOPMENT LOANS OFFER 100% FINANCING

I recently sat down with Craig Boudreaux , loan officer, with Louisiana Mortgage Associates.  Craig gave me an overview of USDA Rural Development loans and why they are so popular in our current real estate market.

craig boudreaux

 

 

LMA

 

 

 

A Rural Development loan is a 100% financed  30 year fixed government loan available to individuals with a minimum 620 credit score or higher. Income limitations for a family of 4 or less cannot exceed more than $73,600 per year. There is no monthly mortgage insurance premium and the home must be in an eligible area determined by USDA.

Craig shared with me, "Most people are surprised to learn that this 100% financing is available for Lake Charles  homes South of Gauthier Road."  Craig added, if a buyer has a question about whether the home is in an eligible area, they can call him drectly 337-661-1741  and he will verify the address on the USDA eligibility website map.

 "What makes this such a great loan in our market right now is the fact that buyers  are allowed to  ask  the seller to contribute  up to 6% of the home purchase price toward the buyer’s closing cost expense."

The USDA Rural Development loan is an excellent option for first time home buyers.  Craig added that even recent college graduates who have 1 month on the job can qualify for 100% financing.  All  that is needed is 30 days of pay stubs, a copy of your diploma  and a minimum credit score of 620 to qualify.

 

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For more information on Lake Charles Real Estate, visit my website.  You can search homes for sale in Lake Charles, Louisiana,  and view up to date information on Lake Charles Subdivisions, Neighborhoods

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If you are planning a move to or from the Lake Charles, LA area, I can help!   I am a full time Realtor licensed by the Louisiana Real Estate Commission and am affiliated with:


Century 21 Mike D. Bono & Co.'s

4410 Nelson Road, Lake Charles, LA, 70605 USA

337-478-1578 or 337-499-9592

CENTURY 21® is a registered trademark owned by Century 21 Real Estate LLC. An Equal Opportunity Company. Equal housing Opportunity. Each office is independently owned and operated.  The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments are not warranted or implied representation of it's accuracy,  All information is copywritten and the property of the Author, Marilyn Boudreaux.  

 

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Rainer
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Yvette & Dennis Gardner
Keller Williams Realty, Spartanburg, SC

Welcome to Active Rain and congratulations on your first post.  It looks like you're off to a great start.  We hope you enjoy A/R as much as we do.  There are many opportunities to share your knowledge and learn from others. Take care, Yvette & Dennis

February 14, 2010 05:36 PM
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Author Bio: Marilyn Boudreaux Marilyn Boudreaux is a full time REALTOR® licensed by the Louisiana Real Estate Commission and affiliated with Century 21 Mike D. Bono & Co.'s in Lake Charles, LA. Marilyn Boudreaux is one of the top 100 real estate agents within the entire Century 21 South Louisiana/Texas Region

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