How is this possible? One, if not all, of those three things can prevent a person from being pre-approved for a mortgage loan in Wisconsin.
Well, good news, there has been a mortgage program that has been around for awhile and now it has started to become more popular than ever. The recent events of our economy has eliminated many mortgage loans that used to allow the no down payment option, or at least a low down payment.
We hear more and more, everyday, that banks are tightening their guidelines and have made it more difficult for people to get pre-approved for mortgage loans in Wisconsin.
Well, I will continue to remind everyone that the option of a no down payment mortgage loan is still available. Better yet, we don’t see this program going away…ever!
Visit the nations #1 site for foreclosures and find homes for half the price.
The USDA Rural Development has a housing loan that allows the following:
- No down payment.
- No monthly mortgage insurance. (PMI)
- No cash reserves are required.
- No minimum credit score is required.
- No limit on cash assets.
- Repairs and closing costs can be financed up to 102% of the home’s value.
This mortgage loan program is very good for first time home buyers and lower income borrowers.
Are looking to purchase a home in an area that is eligible?
Not sure what areas and homes are eligible?
Well, I can help you look up a specific property to determine if the area is eligible for a USDA Rural Housing mortgage loan in Wisconsin. Go to my contact info page on this site and I would be happy to help you.