Washington USDA Home Loans | Zero Down Loan Program Lake Stevens, WA

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

If you found this article valuable and would like more information on the Washington USDA Home Loan Program, you can contact me directly at (425) 350-7136 or email me at dankellermtg@gmail.com

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.

Breaking News! Rep Shelly Capitio Introduces Bill To Resolve USDA Funding Crisis

I am pleased to share with you that a supplemental bill has been introduced today by Republican Shelly Capito, Mrs. Capito happens to be a ranking member of the Financial Service Committee and Subcommittee on Housing and Community Opportunity. Below is a copy of the announcement.

Capito Introduces Bill to Continue Access to Home Ownership in Rural Communities

This Legislation Would Increase USDA Rural Housing Loan Guarantee Program’s Capital Reserve - Washington-Rep. Shelley Moore Capito, R-W.Va., the Ranking Republican Member of the House Financial Services Subcommittee on Housing and Community Opportunity, yesterday introduced legislation in the House Financial Services Committee to shore up funds for the U.S. Department of Agriculture 502 Rural Housing loan guarantee program. Capito's bill, H.R. 5003, The Rural Housing Improvement Act, would ensure that responsible families in rural communities continue to have access to the credit market to finance their homes.

"I have received hundreds of letters, emails and calls from my constituents, including home buyers and sellers, who are concerned that the 502 loan guarantee program will soon run out of funds," said Capito. "My legislation would continue to assist thousands of responsible, low to moderate income West Virginians who otherwise wouldn't have access to home ownership."

This supplemental bill will resolve the funding crisis and will help us get through the year without any funding interruptions. All concerned USDA GRH originators and other interested parties (real estate agents, builders, settlement agents, appraisers, community leaders, etc.) are encouraged to contact their members of Congress and Senate regarding their support for this bill. Please click here, and take 20 seconds to email our congress rep in WA State!
http://bit.ly/9yIbjb

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