Attention Millennial Home Buyers.
Nothing to do but move into this completely Remodeled 4 bedroom, 2 full bath house. New kitchen floors and cabinets. Stainless steel appliances. Living room with fireplace.
Seller will offer to Buyers up to a $2,500 credit for closing costs and prepaids.
And … It’s Eligible for Up to 100% USDA Financing.
The USDA Guaranteed Rural Housing Development Loan offers many benefits to qualified Millennial Home Buyers.
• No Down Payment Required! Up to 100% Financing of the home’s appraised value.
• Ability to Finance the Closing Costs into the loan when the appraised value is greater than the negotiated sales price.
• One 30 year fixed rate mortgage at today’s low interest rates.
• Reduced Mortgage Insurance. Beats FHA any day.
Student Loan Debt may be at all-time highs, but Millennials aren’t letting that stop them from buying a home. In fact, a recent report shows that 27 percent of all First Home Buyers have student loan debt. And First-Time Buyers? A whopping 40 percent have student loans.
So how do they do it? How do they keep making monthly loan installments while saving for a down payment or paying a mortgage at the same time? Here’s how today’s buyers are making it happen.
They’re choosing the right loan programs. For buyers with student loan debt, an FHA loan can be a great option. And both Fannie Mae and Freddie Mac have made favorable changes to how student loan debt factors into the mortgage qualification.
They’re getting gifts and co-borrowing. Many buyers are choosing to use gift money from family members to pay their down payment or other costs, while others are choosing to co-borrow their mortgage with a significant other or roommate. Both of these help lower the costs of home buying at the outset.
They’re taking advantage of down payment assistance programs. Saving for a down payment is often the hardest part when you’ve got student loan debt on your shoulders. Fortunately, there are hundreds of down payment (and closing cost) assistance programs that can help cover these expenses and more. Check your state, city and county to find out if there are any you qualify for.
They’re working on their credit. A great credit score means a great mortgage rate — and less money paid monthly and over the life of the loan. Today’s buyers areboosting their scores by paying down their debts, avoiding late payments and watching their credit reports carefully.
As they say, “where there’s a will, there’s a way.” And today’s Millennials are proof of that. Do you have questions about buying a home while dealing with student loan debt?
Reach out to Me to discuss your mortgage options and to take advantage of my FREE JumpStart Mortgage Pre-Approval service
These selected Homes for Sale in Thomaston CT are Eligible for up to 100% USDA Financing with a Guaranteed Rural Housing Development Loan.
The USDA Guaranteed Rural Housing Development Loan offers many benefits to qualified buyers:
• Up to 100% Financing of the home’s Appraised Value – No Down PaymentRequired
• Ability to Finance the Closing Costs in the loan when the Appraised Value is higher than the negotiated sales price
• One 30 year fixed rate mortgage at low-interest rates
• Reduced Mortgage Insurance beats FHA and increases buying power.
Call Me @ 860.945.9284 to discuss the right mortgage option for your family and to take advantage of my FREE Jump Start Mortgage Pre-Approvalservice.
With USDA Guaranteed Rural Housing Development Loan you just might be able to move in to a new home this New Year with a minimal down payment and low to no closing costs.
It’s so much larger than it appears. Plenty of room to stretch out in this well cared for cape style home boasting 4 BRs with a full bath on each floor. Many possibilities for small. large or extended families. Ideal for Millennial First Home Buyers.
Charming 4 BR ranch with many extras. Reduced price for New Year sale
Please Note; Most single-family properties for sale in Thomaston, CT are eligible for the USDA Guaranteed Rural Housing Development Loan program. Condos too, as long as the HOA meets FNMA and FHA guidelines. The program has liberal income limits and DTI ratios that might enable buyers of other high-end homes to qualify for this program. Call me for details.
Let me be the first to welcome you to 479 Mount Fair Drive in our desirable neighborhood in Watertown CT.
Formal living room and dining room, large country kitchen leads to large deck with mountain views. Family room with wood-burning fireplace and vaulted ceilings. 3 BRs including master Suite. Finished lower level for office or exercise/play area. Hardwood, carpet and tile floors. 2 car garage. Private back yard.
Preparing To Own Your First Home
As a First Time Homebuyer, you’re about to make one of the biggest financial decisions of your life. For Millennials, a new home represents the most expensive purchase they’ll ever make. One of the best things you can do is read, research and learn about the mortgage application process. The more you prepare, the more confident you’ll feel about purchasing the home you want.
Mortgage Pre-Approval Being pre-approved by a lender gives you the confidence to shop for a new house, knowing exactly how much you can afford. You can avoid looking at properties that don’t fit your budget. The pre-approval helps you know exactly what is possible right from the start. In fact, most realtors expect you to be pre-approved.
How Much Can You Afford? A good place to start is to look at your current expenses. You probably have both “fixed” expenses… i.e. car payments, taxes, or day care … and “discretionary” expenses… i.e. things like travel, clothing, entertainment, or other areas where you can decide how much to spend.
Then, make up a budget. You’ll see how much of your monthly income is already committed to “fixed” expenses, as well as how much you have to spend on a mortgage payment, taxes, and insurance for a home.
Of course, how much you can afford also depends on how much debt you have. Long-term debt – i.e. debt that will take more than 10 months to pay off – is what lenders are most concerned about. If you have long-term debt that is considered “excessive” for your income, it will probably limit how much you can borrow. If you have a lot of long-term debt, you may want to pay off some of it before you apply for a mortgage.
Remember: I’m always here to help make things easier. Reach out to Me email@example.com to discuss your mortgage options and to take advantage of my FREE Jump Start Mortgage Pre-Approval service.