Fulfill Your Property Goals
We Can Show You Financing Options
What are Your Loan Options?
Unless there’s a flush of cash, you may certainly need a mortgage. We can show you some financing options.
Our REALTORS® can give you a call to explain all about mortgage and financing options in detail. We have been assisting people every day through the process for several years now.
|USDA - Rural Development Direct||Single Family Home, Condo AND Can be new construction||No Down payment 100% Financing . Can have sliding scale interest Rate. Can finance closing costs (if property appraises)||financing up to 102% of purchase price (if appraisal supports)||must go directly to USDA http://www.rurdev.usda.gov/me/ (income and location restriction)|
|USDA - Rural Development Guraranteed||Single Family Home||No Down payment 100% Financing. Can finance closing costs (if property appraises)||A monthly fee, not called pmi added to loan||"Guarantee Fee" Currently 2% at time of purchase and .4% monthly Can finance up to 102% of the loan value|
|Can often borrow for some improvements. Some income limits. DIRECT program has sliding scale interest rates.|
|VA||1-4 Unit Owner Occupied* With prior landlord experience, 75% of the rental income can be used to qualify||No Down payment 100% Financing||No||One time funding Fee 2.15% for first time users, 3.3% for second time or more users. Disabled Vets no funding fee.|
|*Credit scores generally need to be min of 640 with debt to income ratios that need to be met (for example you can only have a percentage of your income going to all your bills and a percentage to your mortgage.) SELF-EMPLOYED: can quilify with documentaion of sufficient income.|
DISCLAIMER: ALL INFORMATION SUBJECT TO CHANGE, ACCURATE WHEN PRINTED, PLEASE CHECK WITH YOUR OWN LENDER
We are committed to helping you with the loan process in a seamless way. Our Portico Realty team offers a free consultation session to help you understand the process. We provide one-on-one or phone consultation.