100% USDA RURAL HOUSING FINANCING

Most of the legitimate 100% financing programs for non-veterans are gone with the exception of the rural housing program by USDA. During the heyday of real estate financing there was a variety of 100% financing programs for anyone who could fog a mirror. Corrupt abuse led to basic elimination of virtually all of these programs. At Dreamworks Homes, we had some very deserving customers that realized their American dream of home ownership from some of these programs but most of them are gone. Now, attention has been focused on a little known program from the USDA that still provides 100% loans.

Wooden Eagle Plantation is in the area that qualifies for the USDA 100% program. We have known this program existed for some time but haven’t pursued it since few lenders we talked to knew much about. The real estate community has discovered this as a viable alternative to credit worthy customers that still need 100% loans to buy a home. From what I know, it has some very positive aspects. Several reputable local lenders have become functional in this program and can advise buyers if they qualify. There are credit worthiness criteria as well as income parameters a buyer must fit within for loan approval. The USDA program is not intended to offset bad credit or high risk customers. It is intended to make funds available to rural areas historically dodged by lenders. Wooden Eagle is far from rural with high quality homes, sod, sprinkler, privacy fences, sidewalks, public water and sewer but it does fit within lines drawn on a map years ago therefore qualifying for the program.

We are aware of several good lenders that can advise if you qualify. They have become knowledgeable with the program and we will be glad to provide their contact information.

Time is running out on the $8,000 tax credit from the federal government. Also, it is my understanding Georgia has implemented an additional tax break for homebuyers that qualify. With all the mega waste of government money, this is still the only meaningful thing that has been done to help most of us. Don’t miss this opportunity.