Tag: Millennial Home buyer
Raised ranch features large country kitchen with breakfast bar opening to bright living room with cathedral ceiling. Nicely situated on level lot in quiet country setting. Ideal for Millennial First Home Buyers
It’s Eligible for Up to 100% USDA Financing!
The USDA Guaranteed Rural Housing Development Loan offers many benefits to qualified Millennial Home Buyers
♦ Up to 100% Financing of the home’s appraised value – No Down Payment Required
♦ Ability to Finance the Closing Costs in the loan when the appraised value is greater than the negotiated sales price
♦ One 30 year fixed rate mortgage at low interest rates
♦ Reduced Mortgage Insurance. Beats FHA MIP.
http://www.realtor.com/realestateandhomes-detail/10-Missy-Rd_Terryville_CT_06786_M31668-61642
Reach out to Rick Cignoli to find out if the USDA Guaranteed Rural 
Housing Development Loan is the right mortgage option for you and to take advantage of his FREE Jump Start Mortgage Pre-Approval service.
Then call your Realtor to schedule a showing and be ready to make an offer.
The USDA Guaranteed Rural Housing Development Loan (aka USDA RHD Loan) is extremely popular with Millennial Home Buyers. That’s because the program requires Zero Down Payment. That’s right… 100% Financing is available to purchase eligible properties in select areas of Connecticut.
And, it just got more attractive Just in time for the New Year, the USDA lowered its 
Up-Front Mortgage Guarantee Fee from 2.75% to 1.00%. And… it also reduced its Monthly Mortgage Insurance Premium from 0.50% to 0.35%
The USDA loan is now one of the most affordable home loans available, This fee reduction makes the RHD less expensive than FHA products. A USDA home loan can make owning a home less expensive than renting one and could be the avenue for Millennial Home Buyers to move into a new home in 2017.
What Is a USDA Loan? The United States Department of Agriculture partners with approved local lenders to assist homebuyers with competitive interest rates and loan terms to buy their primary residence in select areas of Connecticut
The Program Offers:
100% Financing – No Down Payment is Required. Coming up with a Down Payment is one of the biggest barriers to entry into the housing market for Millennial Home Buyers. A USDA mortgage eliminates that obstacle.
Closing Costs Can Be Rolled Into the Loan Amount. The closing costs associated with obtaining a mortgage can be included in the loan amount when the appraised value exceeds the contracted sales price.
Liberal Credit Scores. The USDA Guarantee allows lenders to approve mortgages that would not qualify under guidelines for other programs. Applicants with credit scores down to 640 are eligible for this loan.
Debt:Income Ratios: To qualify, you must meet debt-to-income requirements. The DTI ratio limits are 29% (for PITI) and 41%. The reduced fees make it easier to meet these ability to pay guidelines.
Millennial Home Buyers often chose the more expensive FHA loan program, even when they are buying in USDA-eligible areas. If you are buying in a suburban or rural area, it pays to check USDA eligibility maps. Choosing USDA can save you the 3.5% down payment that FHA requires. And, now that the reduced mortgage insurance fees are in effect, you can save money each month over FHA
Eligible home buyers should weigh the benefits of a USDA loan.
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 Payment Required
• 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-Approval service.
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.
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52 Stoughton St, Thomaston, CT
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.
174 Edgewood Avenue, Thomaston, CT
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.
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 to accommodate small. large or extended families. Ideal for Millennial First Home Buyers.
And it’s Eligible for Up to 100% USDA Financing.
Closing Costs can be rolled into loan amount.
Low Rates! Reduced MI. Beats FHA and CHFA any day.
http://www.zillow.com/homedetails/52-Stoughton-St-Thomaston-CT-06787/57821597_zpid/
Reach out to Rick Cignoli at 860.945.9284 to see if the USDA Guaranteed Rural Housing Development Loan is the right mortgage option for you and to take advantage of his FREE Jump Start Mortgage Pre-Approval service.
Then call Kristen Butts at Clemens & Sons to schedule a showing and be ready to make an offer.
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First Home Buyer Checklist
For Millennials, buying your First Home is an exciting adventure. Owning a home is the American dream. It’s also the largest investment most of us will ever make (aside from perhaps the cost of a college education), Knowing what you’ll need before starting the trek is just as important as knowing what isn’t required. Here are some tips.
Here’s what you’ll need:
♦ Get Mortgage Pre-Approval. A Mortgage Pre-Approval is a commitmen
t by your lender that they will lend you a specific amount of money when you find your new home. By getting Pre-Approved for a mortgage before you start house hunting, not only can you shop with confidence, but you’ll be show sellers you are qualified and serious about buying their home.
♦ Enough income to pay monthly mortgage payments. Keep in mind that 
your monthly mortgage obligation will include not only the mortgage payment, it will also include an escrow payment for your home owners insurance (HOI), taxes, and your monthly mortgage insurance premium (commonly called PMI or MIP).
♦ The ability to maintain the property. You must keep a home in good repair or it will lose value and you’ll lose money. One of the “joys” of homeownership is keeping up with the chores around the house. You’ll need a lawnmower to maintain curb appeal and you can’t ignore peeling paint or unexpected repairs that eventually come along. If you’re handy you can DIY or you can hire someone to do it for you. Either way, it will cost money. And you ‘d better be prepared.
♦ A decent credit record. Your credit score is the major determining factor in your ability to get a mortgage at the best terms. Low scores are caused by late payments, bankruptcy or collection accounts
There is only one Website authorized by law to provide the Free Annual Credit Report you are entitled to under the Free Credit Reporting Act – annualcreditreport.com. Check it out! And if you see any problems, take action.
Here’s What You Won’t Need:
♦ A big down payment. Sure, it would be nice to be able to make a 20% down payment on your new home. With equity in your home, you can
avoid paying PMI, you might get a better rate and you’ll lower your monthly payments.
But it is possible to buy a home with a small down payment. There are several loan programs available to qualified home buyers that allow for down payents as low as 3 to 3.5%; there’s even one that allows for up to 100% financing of eligible properties. Talk to a professional mortgage loan officer about the best option for your family.
♦ Experience. There is a lot of information on the internet about the whole home financing/home purchase adventure. It all tends to result in a giant 
jigsaw puzzle. Look to the experts for help putting those pieces together. A professional mortgage loan officer has the experience to guide you through the complicated mortgage application process. A trusted Realtor can help find the right house, assist with your negotiations and address other issues with the home purchase.
Resource: http://www.hgtv.com/design/real-estate/a-checklist-for-first-time-homebuyers
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 
Remember: I’m always here to help make things easier. Reach out to Me at