She didn’t want to raid her retirement account

Mary L. was ready to buy a home but the majority of her assets were in her 401k retirement account.  Not wanting to use that money, she needed a loan program that required minimal out-of-pocket expenses so that she could keep her savings in tact. Solution: The USDA, 100% financing home loan program.

Mary bought her home with no down payment and she was able to finance all of the closing costs because the appraisal came in higher than the purchase price.  Janna got her home, and kept her retirement account in tact!

If you are looking for a home, but lack the required down payment and closing costs, look into the possibility of a USDA home loan.  If you are in an eligible area, this might be your ticket to home ownership.

Baxter Scruggs is a mortgage banker specializing in USDA loans in California, NMLS #156370. He can be reached at, or at 760-497-7705, or toll-free at 877-347-0004, ext. 226. Licensed by the California Department of Business Oversight under the California Residential Mortgage Lending Act.  The blog postings on this site represent the positions, strategies or opinions of the author and do not necessarily represent the positions, strategies or opinions of Guild Mortgage Company or its affiliates. Terms and conditions apply, all loans subject to underwriter approval. Subject to change without notice. Guild Mortgage Company NMLS #3274

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