Welcome to JoeNJMortgage.com!

HOME PAGE
GET A QUOTE
CURRENT MORTGAGE RATES
MORTGAGE CALCULATOR
TESTIMONIALS
MONMOUTH COUNTY COMMUNITY DEVELOPMENT GRANT
MIDDLESEX COUNTY GRANT
REVERSE MORTGAGES
VA MORTGAGES
USDA RURAL HOUSING DEVELOPMENT GUARANTEE
REAL ESTATE SALES PROFESSIONALS
REAL ESTATE ATTORNEYS
BUSINESS PARTNERS
DOWNPAYMENT ASSISTANCE

USDA RURAL HOUSING DEVELOPMENT GUARANTEE

USDA Rural Development Housing Guaranteed Mortgages 

Are you ready to own a home but are not sure you will qualify due to lack of a down payment?   

Rural Development may be able to help you!  

USDA Rural Development has partnered with FIRST CHOICE LOAN SERVICES, INC. to help us extend 100%Financing opportunities to rural individuals and families.

  •  No down payment required - 100% Financing Available

  • ONLY .40 annual fee(only 33.34 per $100,000 loan amount) - you may qualify for a larger loan.

  • Flexible credit and qualifying guidelines.

The Rural Development guaranteed loan program has assisted thousands of customers just like you.

 

The Advantages:

  •  No Down payment is required.
  •  Flexible credit score guidelines.
  • No maximum purchase price limit.

  •  Closing costs can come from any source including gifts.

  •  Repairs and improvements can be included in the loan.

  •   Competitive fixed 30-year rates.

Eligibility criteria: 

  • Occupy the property as your primary residence.

  • Do not own an adequate home.

  • Be a U.S. citizen, a U.S. non-citizen national or a “qualified alien”. 

  • Provide stable and dependable income for repayment ability.

  • Have a credit history that indicates a willingness to meet obligations as they become due.

  • Have an adjusted household income that is within Rural Development guidelines based on the number of persons who will occupy the home.  

  • Purchase a residential property that is located in a Rural Development eligible area

Choose Rural Development as the first option

  • 30 year fixed rates

  • Generous income limits

  • Flexible credit guidelines

  • NOT limited to first time homebuyers

  • Assistance options, such as gift funds, grants, seller concessions allowed.

Tools and Web Site links:

 How do you get started?

  • Educate yourself on the Guaranteed Loan Program by reviewing all of the information on this site and the "eligibility" web site.

  • Set up an appointment with Joe Parisi at First Choice Loan Services for your pre-approval determination. 

  • If you have any questions, contact Joe Parisi at 732-407-8156.

 Let me know how I can assist you with meeting your home ownership goal.



First Choice Bank controls the closing.

Loan up to appraised value plus the guarantee fee.
Include closing costs/repairs/renovations in the loan.Low USDA Annual Fee of only .40 (That’s just $33.34/100,000 mortgage/month).

Maximum loan amount is 100% of the appraised value plus the one time guarantee fee.

No cash contribution or cash reserves required from applicant.

Non-traditional credit allowed.

No minimum credit score.

Repayment ratios are 29/41. Ratio waivers are allowed with documented compensating factors.Not limited to first-time home buyers.

Fixed interest rates with 30 year term.First Choice Bank underwrites and funds these loans in house. 

We're not a broker, we are an FDIC Insured Depository Bank! 

Most homes on Monmouth, Ocean and Middlesex Counties qualify.Call Joe today to determine if your client and the home of their dreams qualify. 

Joe Parisi
Sr. Home Loan Consultant
NMLS #307863
(732) 407-8156 (cell)

There is no excuse for not owning your own home!