No money down purchase program with USDA lending program is how you can purchase a home at 100% financing in California. The USDA offers a unique lending program in a designated area of the county in which you are looking to purchase a home in. Click on the Video below to find the approved lending areas of each county.
First step to purchase a home utilizing the USDA home loan program is qualification process. You must qualify with income, credit and assets, that is where I welcome the opportunity to play a vital role with your loan process in purchasing a home in California with no money down.
Purchasing a home a on the USDA program does not required that much money, with no money down and the closing cost can be covered with your funds, gift from a family member, seller can pay and the lender can give you a credit towards closing cost in form of a interest rate increase.
The last part is we can financing the closing cost, the USDA home loan program is the only purchase program that will allow you to finance the closing in the loan. The one criteria on that is, the home must appraise for higher than the agreed upon purchase amount. If the appraised value is higher than we can financing the closing cost in the loan, how nice would that be, purchase a home from under $1000 in the state of California.
Now that is making homeownership a reality. If you are limited on funds to purchase a home, but really would like to own one, lets explore the USDA home loan program as your lending source to own a home.