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.

Stanwood USDA Rural Development | Buying A Home In Stanwood For Zero Down

Are you a thinking about buying a home in Stanwood? If you are, what are the top three questions you have about buying a home right now? Actually, let me guess: (1) Is my credit score good enough to qualify to purchase? (2) How much money do we need to put down in order to qualify for a mortgage and are there any Zero Down Mortgage Programs available in the Seattle area? (3) What do I qualify for, I heard I only need to make $40,000 to buy a $200,000 home?

All of these questions are very good questions and will be answered below. Cutting to the chase, if you have a consistent 2-year employment history, meaning, if you've worked in the same line of work and can document your income via tax returns, W-2's and college transcripts (if you spent time in college, that counts as viable work experience) then you most likely qualify for a home mortgage. The reason why I am not too concerned with your minimum credit score to qualify for a FHA, VA, or USDA mortgage is because I can build or fix credit in a short time... So, here are the answers to those BIG questions:

(1) Is my credit good enough to purchase a home with zero down?
You need a minimum credit score of 620 (possibly 580 on certain programs). Regardless of how low your score is, I have a special credit repair program for Seattle area home buyers, so don't let a past mistake detour you from making a great financial investment today...

(2) Can I buy a home in Stanwood, WA with Zero Down?
Yes, you can use the Stanwood USDA Rural Development Home Loan Program if you are buying a home east of highway 9 or north of 140th in Marysville. You can also use the Stanwood VA home loan. You must have served or are currently serving in the military and provide a VA Certificate of Eligibility and DD214. Lastly, you can use the Washington State House Key State Bond Loan Program that offers the only true zero down option for first time homebuyers. This program requires you to attend a 5-hour homebuyer education course in Everett, WA with Dan Keller, House Key Approved Mortgage Lender. In return, you get a state bond down payment assistance certificate for up to $10,000 to use toward your down payment, closing costs or buy down points.

(3) How much do I qualify for?
With this question, I typically refer you to call me, and within 5 minutes, I can Pre-Qualify you for a mortgage and give you an exact estimate that you qualify for with corresponding total monthly payment figures. You can request information directly from me by visiting www.mymortgageguydan.com

Below are two additional questions that surface daily...

(4) What are closing costs, and can we get the seller to pay our closing costs for us?
Closing costs are the sum of all cost associated with the mortgage process - bank and loan fees, title and escrow fees, and pre-paid and reserve fees required by the bank if you putting down less than 20% to cover property taxes and home owner's insurance so that in the event the borrowers ever default, the mortgage lender's security interest in the home is protected. Closing cost are typically estimated at 3% of the loan amount, and YES, nearly 100% of the time with my first time homebuyers we get the seller (or in the event the home we are buying is a foreclosure or short sale) bank to pay the borrower's closing costs.

(5) Can I get a great deal and buy a foreclosure short sale?
Yes. About 80% of the mortgage loans I write today are on foreclosures homes and short sales. You don't need to go to the court house and pay all cash for the home, nor do you need a special lawyer to buy these homes. Your full-time local Realtor that specializes in working with homebuyers should be able to advise you accordingly.

If you would like to discuss the Pre-Approval process for one of these great loan programs, I can be reached directly at dan.mortgageadvisor@gmail.com or at (425) 350-7136