This blog post is a result of me funding six out of my last ten Washington USDA Home Loans in Lake Stevens, WA. Between the attractive foreclosure and short sale homes for sale in Lake Stevens, and the Zero Down Marysville Meadows New Construction, the USDA loan program is running a tight race with Seattle FHA Financing and currently out-performing the Washington State House Key Program.Why Washington USDA Home Loans are so popular for first time homebuyers:
(1) Allows for Zero Down Payment
(2) Does not require private mortgage insurance (PMI)
(3) Offers extremely competitive 30-year fixed rates - ask Dan for a FREE USDA Rate Quote
(4) Allows for the seller to contribute up to 6% toward closing costs/buy down points
(5) Great for financing Marysville New Construction and/or Washington Foreclosures
(6) Requires a min credit score of only 640
There are 2 main qualifying factors:
(1) The property has to be located in a USDA eligible region; and
(2) The total household income must be under a certain gross amount (see below)
Below I have provided a link and short video that will allow you to search a property address to determine if the property is USDA eligible. A general rule of thumb to consider: If the home is located on the East side of hwy 9 and north of 141st in Marysville (the Marysville Meadows New Construction) , it is eligible for USDA financing.
Is This Property USDA Rural Development Eligible?
Click here to enter a property address or watch the short video below for instructions
For additional information on Washington USDA Home Loan Household Max Income Requirements, click on the link below:
USDA Max Household Income Requirements
Click below if you would like a FREE USDA Interest Rate Quote, FREE USDA Mortgage Pre-Approval or more information on the income and property eligibility guidelines.
