USDA Renovation Loan provide the option of a no money down financing that covers the value of the property plus the cost of renovating the home. Below are a few facts about the USDA Renovation Loan program, for more information don’t hesitate to fill out the form above and a loan officer will guide you thru the process.
– USDA loans are for rural areas but many semi-rural areas also qualify, if you are not sure about your area qualification contact us today.
– The minimim FICO score required is 620.
– It can only be done for primary residences.
– Must have the ability to fianance the renovation cost, less than 10% of appraisal value of $10,000.
– The home repais must begin after closing so that there are no delayed funds for the seller.
– The construction job must be done by a general contractor.
This program can help people with low income and low credit. This a special opportunity to get 100% financing! If you are interested in learning more or starting the renovation loan process, contact us by filling out the form or calling us today!