Great news for home buyers in Anthem. There is a new loan program that is offered in Anthem called the USDA loan. This is a true 100 percent loan. Not all areas are authorized for this loan but Anthem has been approved. Here are a couple of highlights of the loan program.
102% financing based on appraised value, if appraised value exceeds sales price,
borrower can finance closing costs!
• No monthly mortgage insurance, 1-time guarantee fee of 2% that can finance above the
appraised value.
• No asset requirements.
• No first time homebuyer restrictions.
• No minimum credit scores.
• Borrowers must not own adequate housing.
• Declining markets do not affect Loan To Value.
• 6% seller concessions and 100% gifting is allowed – Borrower’s can purchase a home with
no money of their own into the transaction.
• Geographic and income restrictions apply.
Please contact me if you would like to learn more about these restrictions or visit this link:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
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