Need a Home Loan with No Money Down? You have Options.
True 100% Financing means you need zero down payment. We challenge you to find a better purchase program anywhere in the Nation!
First Time Homebuyers Love This Mortgage Program?
Diamond Funding's 100% Purchase Program affords you a low rate mortgage with no money down and no monthly mortgage insurance premium (PMI).
Poor Credit History?...Maybe Not Problem. All that's required is a 620 credit score. Even a previous bankruptcy is okay. (*Some restrictions apply. Not available in all areas).
What makes this all happen is: The government guarantees the lender so the lender can take a greater risk. Lenders want to lend money, but they don't want to take risk, so the USDA solves this problem.
Example: 30 Year Fixed
Mortgage Type
Loan Amount
Monthly PMI
Down %
Down $
FHA
$200,000
$83.33
3.5%
$7,000
Fannie Mae
$200,000
$123.50
5.0%
$10,000
USDA
$200,000
$0
0%
$0
Few people including real estate agents and mortgage loan officers are aware of the exceptional USDA government mortgage loan program.
If they were, a lot more homes that are on the market today would be selling and a lot more renters would be homeowners. Real Estate Agents and For Sale By Owners should use this 100 percent loan to their advantage in selling residential property.
Not every property, or borrower, will qualify for a USDA mortgage, but if they do they will be getting one of the best government guaranteed mortgages available with low fixed interest rates, no down payment and no PMI.
Here are the three primary reasons for the USDA Big Mortgage Secret:
Most mortgage lenders, including banks, are not approved to offer USDA home mortgages
Some residential properties in larger populated areas are not qualified for a USDA mortgage. Generally, communities with a population under 25,000 are eligible. You can check the eligibility for your particular property here: http://eligibility.sc.egov.usda.gov
There are income limitation so some borrowers may actually earn too much to be eligible for a UDSA mortgage, but often this maximum income limitation can be $80,000 per year, or more.
If qualified, the major USDA benefits are:
100% mortgage based on the APPRAISED value
Finance All Closing Costs up to the Appraised Value
Flexible Credit Guidelines
Zero down payment and there is no minimum borrower contribution required
No limit on Seller Concessions or Gift Funds
No mortgage insurance required
No reserves required
30 year fixed rate only
No Pre-Payment Penalty
Lenders must be USDA approved
Low interest rates, this is not a sub-prime mortgage
For primary residence only
Borrower may not own other real estate
USDA is not a subsidy loan so there is no recapture
It is unclear how long this special program will be available, so get pre-approved now.
Diamond Funding offers USDA residential mortgage financing. To find if you can take advantage of the excellent UDSA home mortgage you only need three things.
The property address
Your annual income
Your credit rating
You should ask the Seller to pay your closing costs in your written Offer to Purchase.
If the property appraises high enough we finance all of your loan closing costs. If not, you can ask the Seller for a "Seller's Concession", which means the Seller can pay your closing costs as an inducement to help sell the property. The wording for your offer should be similar to: "Seller Agrees To Pay 3% of the Purchase Price Towards the Buyer's Closing Costs, Pre-paid Escrows and Discount Points".
What's next?
The best thing to do is complete the quick online form below. However, nothing beats a good conversation so feel free to call anytime for more information. 508-381-6400.
Diamond's goal is to provide you with a great mortgage. Since 1986, helping happy homeowners has been our primary focus.
IMPORTANT NOTE: While USDA financing offers flexible credit guidelines, decent credit is very important. Major late payments and charge-offs are a potential problem, unless that can be perfectly explained and documented, such as medical issues caused a loss of work, etc. It is also important to prove that the cause of the credit blemishes have been corrected and are not likely to reoccur in the future.
Customer Commitment Our service culture is precisely in sync with our customers' needs. It's a mindset that values customized solutions over off-the-shelf thinking. We listen more than we talk, and when we act, it's driven by customer goals. Our customers are some of the most intriguing people. We're proud of our role in their success, and are deeply committed to expanding our customers' growth. At the center of our commitment are our people, some of the kindest we've known. We are innovators, collaborators and exceptional performers, all made evident by the facts: Over 120,000 have partake in our services. We u
Like No Other Lender.
nderstand that when we do more, our customers can do more. With every problem solved, we are delivering on a promise to our customers: your success is our business.
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