When the sub-prime meltdown hit, so-called “exotic” loan programs became extinct. Included in these were zero down programs which helped many first time homebuyers jump into the market. Today, there remains one great zero down program that few people realize can benefit them.
The government sponsored USDA Rural Housing Program offers the ability for a homebuyer to purchase with no down payment and NO PMI! The program is limited to properties defined as “rural” by the program.
These “rural” areas typically lie just outside of the greater metropolitan areas. East King County such as parts of Maple Valley, Enumclaw, Duvall, Carnation, Fall City, Snoqualmie & North Bend have properties that fall under this program. North of King County, South of King County, much of Pierce, Jefferson and Kitsap County all have many areas that qualify. The program also contains restrictions on household income as well.
While not limited to first time homebuyers, this program is currently helping thousands of first time homebuyers across the country enter the housing market. Combined with the first time
homebuyer tax credit, this is a great program to help boost our home sales!
~ Courtesy of Wendy Charles, LoanCentral LLC, 425.468.9321, WendyC@LoanCentral.com
- Jeanette Eide
- Bellevue, Washington
- I’m a full-time professional Realtor specializing in residential resale and new construction in Seattle, Bellevue, Redmond, Kirkland, Issaquah, Newcastle, Sammamish, Bothell, Mill Creek, Snohomish, Everett, Woodinville, Kent, and Renton. Together with my husband Erik, we have over 17 years experience. We take the time to listen – getting to know you and establishing your exact needs. From there, our sole focus is getting you where you want to be, on time, in the smoothest manner possible. Together with our team of professionals, the closing of your transaction will be handled knowledgeably with the attention to detail you expect and deserve.
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