Its back.... If you are a home shopper and are interested in purchasing a home in a designated Rural area (caution rural may not be what you think it is) you may be able to purchase that home with 100% Financing and No Down Payment. It gets even better, that loan will also include no monthly mortgage insurance. This program beats any FHA or Conventional loan program where there is not a 20% Down Payment. An example on a $150,000 home purchase with Real Estate Taxes around $3500 and Home Owners insurance at $600 for the year would be a payment of around $1130 a month including everything (APR 5.233%) with no down payment. This is a great program and there are properties all over Illinois that qualify for this. Some of the counties that are 100% eligible are Stephenson, Jo Davies, Carroll, Ogle, and Lee. Other counties such as Kane, Will, McHenry, Grundy, DeKalb, KanKakee, Winnebago, and Boone have many areas that are condsidred rural properties. Again, rural does not mean you have to live on a farm (huge misconception). If you are interested in more information on qualifying for a USDA loan or would like to find out if a particular property is Eligible please send me a message and ill send ya a link.
Mike Scalise
http://www.mike-scalise.com/
www.facebook.com/MyMortgageLoan
mike-scalise@comcast.net
Phone: (815) 621-9888
