We offer Homepath Loans which make a nice alternative to to the other mortgage programs available in the market. Offered by Fannie Mae, Homepath Loans enable you to purchase a house owned by Fannie Mae. For a list of the properties owned by Fannie Mae visit www.homepath.com. Homepath Loans are available for primary residences, second homes and even investment properties.

Homepath Loan Benefits:

• Have you tried to purchase before only to be put out by cash buyers and other first-time buyers?
• Have the properties you wanted to purchase had property appraisal concerns?
• Considering an alternative type of financing?

The Homepath Loan makes a nice alternative to a property where the appraisal conditions are otherwise restrictive. The loan program offers a total lower monthly payment than most other programs out there because there is no mortgage insurance. There is also no appraisal required for this type of financing meaning you will not need an appraisal contingency. Learn more about this program on the following links:

The Nuts & Bolt Of Home Path Loans

Selecting The Right Home Loan Program

Learn The Minimum Credit Score For Financing

Homepath Loan Highlights:

• Purchase a house with as little as 3% down
• No appraisal required
• No mortgage insurance required
• Automatic 3% seller credit for closing costs
• Quick close of escrow
• Lower total monthly mortgage payment
• Chose an affordable 30 year fixed-rate program
• No prepayment penalties
• 6% seller credit can be paid by the seller for home buyer’s closing costs

How Homepath Loans Work:

• Monthly principal and interest payment is amortized over the life of the loan
• No prepayment penalty
• Pay more than the principle in any month for interest rate savings over time

To learn more about how this loan program works visit our no obligation online prequalification form and get started. We can run the numbers for you to determine what your total cost will be as to also what your down payment might look like. Down payment programs run at 3% down and 5% down and down payment gifts are also permitted.

USDA Loans are backed by the US Department of Agriculture. The US Department of Agriculture similar to the FHA, insures lenders against default risk by offering these home loan solutions. The US Department of Agriculture in order to promote homeownership in less industrialized areas, offers a flexible loan program called the 502 rural loan guarantee housing loan program. This program allows you to purchase a primary residence with certain income and dependent caps per the county and/or the city in which you are purchasing a home in. The program allows you to put zero money down on the purchase of a primary residence so long as you meet the income and dependent requirements along with purchasing in a USDA approved eligible area.

<strong>USDA Loan Benefits:</strong>
<ul>
<li>Is pursuing homeownership a long-term goal of yours, but you lack funds for a down payment?</li>
<li>Is your income presently less than $110,000 and you lived in Sonoma County?</li>
<li>Think lower credit scores are preventing you from purchasing a house because of a less than perfect credit scenario?</li>
</ul>
The USDA Loan Program allows you to purchase a house without any money down. The program is truly 100% financing. If you have a demonstrated ability to pay your current housing bill along with other monthly credit obligations, you could be eligible for the USDA rural housing program. Think about pursuing homeownership in a less industrialized area? Then the USDA rural home loan housing program is for you. Please note this program is only eligible in the USDA approved areas. Learn more about USDA loans by checking out these important links.

<a href=”https://sonomacountymortgages.com/2011/08/100-financing-usda-loans/ “>See The Eligible USDA Property Areas For Sonoma County!</a>

<a href=”https://sonomacountymortgages.com/2011/09/first-time-home-buyers-0-down/ “>100% Financing Is Back!</a>

<a href=”https://sonomacountymortgages.com/2011/10/640-credit-score-mortgage-loan/”>640 Is The Magic Score Needed For Government Loans</a>

<a href=”https://sonomacountymortgages.com/2011/12/bad-credit-mortgage-gov-loan/ “>Less Than Perfect Credit? No Problem</a>

<strong>USDA Loan Highlights:</strong>
<ul>
<li>Purchase a primary residence with no down payment</li>
<li>Less than perfect credit scenarios usually acceptable</li>
<li>Previous short sale ok (certain terms apply)</li>
<li>Previous foreclosure ok (certain terms apply)</li>
<li>Previous bankruptcy ok (certain terms apply)</li>
<li>Seller can pay up to 6% of home buyer’s closing costs</li>
<li>Loan is assumable</li>
</ul>
<strong>How USDA Loans Work</strong>
<ul>
<li>Chose an affordable <a href=”https://sonomacountymortgages.com/30-year-fixed-rate-mortgages/”>30 year fixed</a> rate mortgage term</li>
<li>Financed upfront guarantee fee and small monthly mortgage insurance premium</li>
<li>Monthly principal and interest is amortized over the term of 30 years</li>
<li>Fixed rate payment cannot change</li>
<li>No prepayment penalties</li>
</ul>
If you’re thinking about purchasing a property in Sonoma County and want to know if you’re eligible for financing for this type of home loan program start by doing an <a href=”https://sonomacountymortgages.com/loan-qualifying/”>online prequalification</a>. There’s no obligation and you’ll know up front if you are eligible.

With today’s low interest rates the USDA Home Loans makes an excellent choice for people looking to purchase real estate with as little money down or no money down as possible. You can get a c<a href=”https://sonomacountymortgages.com/bestmortgageratequote/”>omplementary mortgage rate quote</a> and begin the process of qualifying for a USDA loan today.

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