The USDA Rural Guaranteed Loan Program is an exceptional vehicle for first time home buyers who often times have trouble coming up with the down payment. The credit crunch keeps some home buyers sidelined because of credit problems, many others with good or adequate credit are able to purchase real estate and get best deals in years, including mortgage programs with no down payment like this! Large portions of Lane County qualify for this program.

This loan program is available right now for Florence, Veneta, Junction City, Cottage Grove, Creswell, Oakridge, Westfir, Swiss Home and Pleasant Hill. The credit guidelines are quite liberal and more people can qualify that may think they can.

To qualify for the program (it is income limited), a family of four cannot have a total household income of more than $70,750 per year. That is a pretty liberal guideline. After Jan. 1, a family of 1-4 qualifies with the same income. Larger families have much higher income limits.

If you are interested in property in this area and would like to see if the address falls within the USDA “footprint” click here.

So – THE TIME IS RIGHT!  We have many properties on the market, we have MONEY TO LEND, and the Federal Government is giving First Time Homebuyers a $7500 tax credit if they purchase prior to next summer!

Call me for more information on USDA mortgage loans in Lane County, and to see if your household income qualifies for this NO PMI (private mortgage insurance) loan check this link. If you want to get the mortgage qualification process started, either call me at 541-342-7576 or fill out an application on line. If you need a Realtor®, I can refer a great person to help you.

Rates and terms subject to change without notice. Maximum loan amounts vary by state, county, and property type . Subject to review of credit and/or collateral; not all applicants will qualify for financing. It is important to make an informed decision when selecting and using a loan product; make sure to compare loan types when making a financing decision. OR Lic #ML-4832.