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 bscruggs@guildmortgage.net, 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

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s