USDA Loans

USDA Loans: They're Not Just for Homes in the Boonies Have you heard of USDA loans? If you're a low-to-moderate-income homebuyer who doesn't have a lot of money for a down payment and who needs lenient credit requirements, you (or your lender) are probably focused on FHA loans. But if you haven't taken a look at USDA loans, you may be missing out on an incredible opportunity. If you're saying to yourself, "But USDA loans are only for homes out in the sticks," that's understandable. It's true that the loans were designed to help buyers in rural areas. But "rural" is a broader term than you may realize. On the USDA website, you can enter an address in the search bar and check if it's eligible, or you can drop a pin in a location to find out whether USDA financing is available in the area. Consider these interesting results: Frisco, TX, currently the fastest-growing city in the nation, is not eligible for a USDA loan, but Prosper, just to the north and being called, "The next Frisco," is eligible. The popular Valencia, CA, north of Los Angeles is not eligible, but areas of Santa Clarita, the city in which Valencia is located, are eligible. There's no harm in looking, and you might find a real gem in an up-and-coming area.

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Neaulani Kuamo'o-Peck (RA) RS 73536 CLS, CNAS RS 73536 Coldwell Banker Pacific Properties RS 73536 808 358-9700 Neaulani@islandhomelife.com http://www.alohainvesting.com/ Coldwell Banker and the Coldwell Banker Logo are registered service marks of Coldwell Banker Real Estate LLC. Coldwell Banker Pacific Properties is owned by a subsidiary of NRT LLC. If you have a brokerage relationship with another agency, this is not intended as a solicitation.