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Connecticut Home Buyers Like the USDA Guaranteed Rural Housing Development Loan

Astute home buyers in select Connecticut communities  are very interested in the USDA  Guaranteed Rural Housing Development Loan.

They find this mortgage particularly attractive because they:
usda 3•  Have the ability to finance 100% of the home’s appraised valueNo Down Payment is required
•  Don’t have to fear risking all their earned savings in a new home
•  Can take advantage of today’s low-interest rates
•  Afford a more expensive home and still enjoy low monthly payments

OVERVIEW
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 is required
• Ability to finance Closing Costs when the Appraised Value is higher than the sales price
• One  30 year fixed rate mortgage  at low-interest rates
• Buyers with <20% down payment can afford higher priced listings because Monthly MI is cheaper than premiums associated with conventional and FHA mortgages
• No Pre-Payment Penalty. No Re-Capture Tax.
• No limit on Seller Contributions. No limit on Gift Funds
» No Cash Contribution required from buyer
•  Credit Scores down to 620.

CAVEATS
The USDA  Guaranteed Rural Housing Development Loan does have a few restrictions:
•  The home must be in a USDA “designated rural area”
•  Adjusted household income can not exceed established income limits
•  Single-family Property only. Must  be buyer’s’ primary residence

My expertise with the USDA Guaranteed Rural Housing Loan expands my ability to provide you with the  “Right” home financing solution.

Call Me at 860.945.9284 to discuss your mortgage options and to take advantage of my FREE  Jump Start Mortgage Pre-Approval service.
You just might be able to move into your new home in select areas of CT with little or no out-of-pocket money and low affordable monthly payments.

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Select Properties

12 Maple Avenue Thomaston CT For Sale – Eligible for 100% USDA Financing

First Home Buyers! This cozy, very solid, gas heat home is ready for a new owner.
It’s Eligible For up to 100% Financing with a USDA Rural Housing Development Mortgage. Closing costs can be included in loan amount. Low rates! Low MI! Beats FHA and CHFA any day!

http://www.ctreal.com/Search/L149616#tr1264940

Call Me at 860.945.9284 for details on the USDA Guaranteed Rural Housing Development Loan and to take advantage of my FREE Mortgage Pre-Approval service
Then call Marcus Santore at Marrin Santore Realty to schedule a showing and be ready to make an offer.

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Mortgage Process

3 Tips for Nervous First Home Buyers

ConfusedFirst Home Buyers are rightfully nervous about buying a new home. It’s a big decision, a big change and a big investment. But with rising rents, low mortgage rates, new loan programs targeted to First Home Buyers and an increase in the supply of quality homes, many wanna-be home buyers feel they can’t pass up the opportunity to take the big step in 2015.

Here are 3 Tips for Nervous First Home Buyers to quell your nightmares and help make your dream a reality.Get Pre-Approved
1.  Get Mortgage Pre-Approval – Talk to a professional mortgage officer. The time you spend documenting your financial fitness to buy a home is well spent if the lender gives you a “Pre-Approval” letter, an important tool as you negotiate for a property.

2.  Be Objective – Instead of thinking with your heart, think with your head when mulling over the decision to buy, Don’t be afraid to ask thoseyourself tough, practical questions that will help you make the best choice about buying your first home.

3. Take a Cautious Approach to Home Selection – Hire your own Real Estate Agent. Inventories are expected to rise this spring as snow-bound home sellers begin to put their homes on the market. Choose a Realtor who is working for you, not the seller. Get one that’s honest; one who understands your concerns and has the patience to guide you through the whole home buying process.

If your dream is to own your own home … you might kick yourself later if you let your fears get the better of you. Now is The Time to Buy!

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Market Updates

Is The 2014 Spring Home Buying Season in CT a Bust? What Do You Think?

I live in a small CT town with a population of about 23,000 persons. According to City Data.com, we have 8,300 houses in town. According to Zillow.com & Realtor.com there are home for salecurrently about 225 properties for sale in town including SF homes, condos, a few multi-families and some land lots. Every Sunday, the local paper lists recent sales in area towns. For the past 5-6 weeks no sales have been reported for our little town. Last Sunday, the paper reported that 24 properties were sold; 30% of which were sold to the bank for a $1. I did a quick check of neighboring towns with lower populations, similar demographics and higher housing density and their figures seemed to be comparable.

Then I read a blog by CTNewsJunkie that cites a report by the state Labor Department and Economic Development Department that seems to blame the housing market for the pain we jobssuffer. The report contends that “if the slowdown in housing, which began in the summer of 2013, continues, job growth will slow this year and again in 2015.  They forecast job growth in CT will “slow to fewer than 20,000 new jobs from YE 2013 to late 2015.” Now that’s new jobs statistics and doesn’t consider a contraction of the total work force due to job losses particularly in the Financial Services and Goods Producing sectors.

It has been my contention for the past few months that the Spring Home Buying Season in CT is a Bust. Homes aren’t selling and Buyers aren’t buying because:

o   Mortgage interest rates have risen.Rising Home Prices
o   Investor demand for good deals pushed home prices up
o   Home values are optimistic in relationship to inventory and demand
o   Job security has turned would be buyers and sellers into “Fence Sitters”
o   Job growth in CT has been hampered by a lack of any government initiatives to promote a business climate that would create jobs

Now I’m glad I have an extensive network of referral sources to keep me busy! But I am interested in your  take on all this. Are you a First Home Buyer, a Mover Upper, a Down Don't Sit On the FenceSizer? Or why are you a Fence Sitter? Is this the banner year you expected? Is it a Buyer’s or a Seller’s market? Is the CT housing market out of the woods yet? I am interested in your feedback and welcome your comments.

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Select Properties

45 Riverside Rd. Newtown, CT 06482 Eligible for 100% Financing – MLS#99029577

45 Riverside NewtownWell-maintained home in Newtown, CT that’s Eligible for up to 100% Financing with a USDA Guaranteed Rural Housing Development Loan. Buyers have ability to roll the Closing Costs into Loan amount. Low Rates! Low Mortgage Insurance! Low Monthly Payments!  Beats FHA any day.

http://www.realtor.com/realestateandhomes-detail/45-Riverside-Rd_Newtown_CT_06482_M34737-52242?source=web

Call Me at 860.945.9284 for details on this Super mortgage program and to take advantage of my FREE Mortgage Pre-Approval service.

Then Call Bob at Maurer Associates  203.426.3429 to schedule a showing and be ready to make an offer.

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Select Properties

Plymouth CT Homes for Sale – Eligible for 100% USDA Financing

Plymouth CT Homes for Sale – Eligible for 100% USDA Financing

These selected Homes for Sale in Plymouth CT are Eligible for 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 ValueNo Down Payment required
•   Ability to Finance the Closing Costs when the Appraised Value is higher than the sales price
•   One 30 year fixed rate mortgage at today’s low-interest rates
•   Low Monthly 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 Mortgage Pre-Approval service.

With a USDA Guaranteed Rural Housing Development Loan you just might be able to move in to a new home in Plymouth CT with a minimal down payment and low to no closing costs.
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13 Lake Plymouth Blvd              $209,900
Immaculate and well-appointed remodeled home. Magnificent views of the lake from the wrap-around decking. Upper level has LR with stone fireplace, HW floors and atrium doors to the13 Lake Plymouth Blvd wrap around deck with panoramic lake views and incredible sunsets.
In-Law retreat features separate entrance, its own eat-in kitchen & FR that leads to stone patio and hot tub. 2 car garage.  
http://www.realtor.com/realestateandhomes-detail/13-Lake-Plymouth-Blvd_Plymouth_CT_06782_M31379-43270?ex=CT545163397 

289 South Street                        $224,000
A Bright and Open Floor plan highlights this young home. Great Lake views from large rear289 South St deck. 3 BR, 2B. Membership to Lake Plymouth includes beach & water access. http://www.realtor.com/realestateandhomes-detail/289-South-St_Plymouth_CT_06782_M31374-21547

42 Blakeman Rd                            $249,900
Privacy at its best! Charming Ranch on 7.6 Acre lot surrounded by beautiful perennia42 Blakeman Plymouthl gardens. Features Open Floor Plan w/Hardwood Floors. Expansive Granite Kitchen opens to  DR & LR w/Coal Stove, MBR Suite w/Hot Tub. Finished basement with Free Standing Propane FP. http://www.realtor.com/realestateandhomes-detail/42-Blakeman-Rd_Plymouth_CT_06782_M35535-87997

P.S. Most single-family Homes for Sale in Plymouth CT are eligible for the USDA Guaranteed Rural Housing Development Loan program. Condo 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.

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Select Properties

102 Clark Hill Road, Prospect, CT MLS# W1067906 Eligible for 100% Financing

First Time Home Buyers! This great opportunity to move to Prospect, CT is Eligible for 100% Financing with the USDA Guaranteed Rural Housing Development Loan program. Buyers have ability to roll the Closing Costs into Loan amount. Low Rates! Low Mortgage Insurance! You just might be able to own this home with no out-of pocket money. Beats FHA and CHFA any day.

http://www.visualtour.com/applets/flashviewer2/viewer.asp?t=2837486&sk=30

Call Me at 860.945.9284 to be sure you have the “Right” information about the “Right” mortgage options for your family and to take advantage of my FREE Mortgage Pre-Approval service.

Then call Jennifer Merrill at 203.206.0467 to schedule a showing and be ready to make an offer.