USDA Broker in Pequannock Township NJ | (888) 464-8732

The USDA Guaranteed Home Loan Program in Pequannock Township is backed by the USDA – the United States Department of Agriculture.

It is a TRUE no money down home loan in Pequannock Township. Many people who take advantage of this program are able to get into their homes with little to no money out of their pocket.

agriculture home loans

BUT, there are several USDA Loan eligibility requirements in Pequannock Township that you need to meet in order to take advantage of this home loan program.

USDA Loans in NJ Requirements Explained:

The first requirement is that you cannot be a current homeowner.

If you already own your home but are planning to sell it, then you are still eligible in Pequannock Township! You just need to have your existing home soldBEFORE we can close the loan for your new home.

The next requirement is that your total annual household income cannot exceed the limits set by the USDA.

These income limits are based on market area and family size.

usda house loan

Another requirement is that you cannot have defaulted on a USDA loan in the past.

This means that if you’ve had a past USDA loan that has gone in to foreclosure, you unfortunately aren’t eligible.

How to take advantage of USDA Loans in NJ:

To take advantage of this program, the home has to be located in an eligible rural area.

But guess what, rural does not necessarily equal country! Homes do not have to be in a country setting.

In fact, there are many areas where entire counties and cities qualify for this program. The property has to meet minimum USDA Loan property standards.

usda first time home buyer

The home must be in satisfactory condition, and this loan cannot be used to finance any sort of income producing property.

That means mini farms, and properties with farm acreage are not USDA Loans eligible.

2019 USDA Loan Eligible Areas in NJ: Map to Eligibility

usda interest rates The USDA Guaranteed Home Loan Program is backed by the USDA – the United States Department of Agriculture. It is a TRUE no money down home loan. Many people who take advantage of this program are able to get into their homes with little to no money out of their pocket. BUT, there are several eligibility requirements that you need to meet in order to take advantage of this home loan program. The first requirement is that you cannot be a current homeowner. If you already own your home but are planning to sell it, then you are still eligible! You just need to have your existing home soldBEFORE we can close the loan for your new home. The next requirement is that your total annual household income cannot exceed the limits set by the USDA. These income limits are based on market area and family size. Another requirement is that you cannot have defaulted on a USDA loan in the past. This means that if you’ve had a past USDA loan that has gone in to foreclosure, you unfortunately aren’t eligible. To take advantage of this program, the home has to be located in an eligible rural area. But guess what, rural does not necessarily equal country! Homes do not have to be in a country setting. In fact, there are many areas where entire counties and cities qualify for this program. The property has to meet minimum property standards. The home must be in satisfactory condition, and this loan cannot be used to finance any sort of income producing property. That means mini farms, and properties with farm acreage are not eligible.

Conventional Loan | FHA Loan | VA Loan

agriculture home loans What is a VA Home Loan? Hello, and thank you for your service. A VA home loan is a great benefit to the militarypersonnel, either during or after their service. My name is Fawn Bertram with Homes by Fawn. What is a VA home loan? Well, it's loan that is guaranteed by theUS Department of Veterans Affairs, and it provides great benefits to those of you whoqualify. For example, no down payment, no private mortgageinsurance, no prepayment penalty and higher loan value. For the county of Honolulu, the maximum VAloan limit is $726,525. Anything over that would be considereda VA Jumbo loan. My name is Fawn Bertram with Homes by Fawnin Oahu. If you're interested in learning more, clickand comment below or give me call. As always, make it a great home buying andselling day. usda loan application

USDA Loan Limit in NJ | (888) 464-8732