USDA has money to lend for home buyers in rural areas of Colorado!

Are you searching for a home in Colorado that’s perhaps a little out of the way?  Perhaps an area like Peyton or Rush (even parts of the Springs may qualify).  Do you have a good credit rating  but lack a big down payment? (only requirement is $100 down).  Perhaps you only make a small amount of the median income in the area, which might prevent you for qualifying for a conventional

USDA has MONEY to lend for home loans

loan.  There’s help out there for you in the form of a USDA (United States Department of Agriculture) home loan!  That’s right, the USDA has a home loan program geared to help people with a low to moderate income purchase homes in rural areas (you may also be surprised at what rural means).  These loans are backed by the US government and unlike FHA loans, USDA loans do not require the borrower to qualify for monthly mortgage insurance premiums.

To see if you qualify based on the income limits, visit Colorado USDA office adjusted income limits which can provide you the limits based on the county that you want to purchase your home in.

USDA loans offer competitive rates and also allow seller concessions to be used towards closing costs.  There’s no maximum home price, but USDA looks at what the borrower can afford to repay.  Don’t forget their are income limits, so if you don’t qualify for it, you can always look at an FHA loan which only requires 3.5% down payment.

This is a great time to buy as interest rates are at historic lows and  housing prices in general are down.  Don’t forget all the tax deductions you can take with the purchase of a new home.

Not all lenders will do these loans, as there is quite a bit more paperwork involved, but one of our frequent guest writers (who’s also a lender), Bryan Yaninek will be happy to assist you.  His number is 719-457-2200.  He’ll be happy to explain the whole program in detail.

For additional information of purchasing a home in Colorado Springs and surrounding communities, please contact Kathy (719-287-1049) nor Nancy (719-659-4380).  We’re experts in purchasing homes and would be happy to assist.

For some other reading on home loans, you might like enjoy looking through the mortgage and finance area of the blog.

Tags: Colorado, colorado springs lenders, Colorado Springs Realtor, farms for sale Colorado, FHA loans, home loans in Colorado, homes for sale El Paso County Colorado, homes for sale Teller County Colorado, mortgages in Colorado, purchasing a home in El Paso County, ranches for sale in Colorado, USDA loans

This entry was posted on Monday, March 2nd, 2009 at 8:25 am and is filed under Attractions & Activities, Colorado Springs, For Buyers, History, Mortgage and Finance, Real Estate Dictionary. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Overcoming The No Money Pre-Offer Jitters | 2byFour.com | I Buy Real Estate said at March 2nd, 2009 at 12:09 pm

   [...] USDA has money to lend for home buyers in rural areas of Colorado … [...]

2. USDA has money to lend for home buyers in rural areas of Colorado … | Home Mortgage Austin said at March 2nd, 2009 at 4:03 pm

   [...] post:  USDA has money to lend for home buyers in rural areas of Colorado … This entry was written by admin, posted on March 2, 2009 at 8:25 am, filed under Object and [...]

3. Debbie Campinho said at April 4th, 2011 at 11:18 pm

   can someone please e-mail more info on how to go about receiving info on usda loans? tks very much

4. first home buyer said at October 21st, 2011 at 8:34 am

   first home buyer…

   [...]USDA has money to lend for home buyers in rural areas of Colorado! | Colorado Springs Vintage Homes Blog[...]…

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