Atascadero, CA – 100% Financing Available

Attention Homebuyers,

Are you looking to purchase a home in Atascadero, California, and you are finding it difficult to save for a down payment?  If so, you may be eligible for the USDA, zero down payment home loan program available in that area.

Benefits of this program include:

Zero down payment.

No Loan Limits (minimum sales price $150,000).

You do not need to be a first time home buyer (there are limitations if you presently own another home).

Seller can pay closing costs.

The USDA program is available in many other surrounding cities.

If you would like more information on how this program may help you get into your next home, please contact me at the numbers or email below for more information.

Baxter Scruggs is a mortgage banker offering 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

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USDA to increase monthly Guaranty Fee

Effective October 1st, 2014, USDA is raising its annual guarantee fee from .4% to .5%.  The annual fee is then divided by 12 for the monthly figure.

For example, on a $200,000 loan amount, the annual fee would be $200,000 x .5% or $1000, divided by 12, for a monthly amount of $83.33.  This amount is paid monthly with the normal mortgage payment.

Compared with mortgage insurance on other low down payment mortgage options, the .5% is still very competitive, and it is still roughly 1/3 of the monthly mortgage insurance on FHA loans which are usually the next option borrowers choose if the USDA loan is not an option.

Baxter Scruggs is a mortgage banker offering 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

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Renters Looking to buy in California – Path 2 Buy

If you presently are a renter, but are hoping to eventually become a homeowner, you probably have numerous questions about the home buying process. How much money do I need? Where does my credit score need to be? How much do I qualify for? What will the monthly payment be for the price range I am interested in? Where do I begin?

It’s a shame, but the home buying and loan approval process has never been more cumbersome than it is today. Years after the real estate meltdown, lenders are still very conservative and lending guidelines continue change. Many potential home buyers base their beliefs on misinformation because of what they read on the internet, or what their neighbor or best friend told them about their own home buying experiences.  The truth is, many families currently renting could actually buy a home today, or in the near future, if they just had an actual game plan.

This is where the Path 2 Buy coaching program comes into play. This program provides you with the information and tools you need to determine whether you can qualify to buy a home now, or if you cannot, what areas you need to work on before you can buy. It covers the 7 reasons that stop most renters from buying, and it provides a follow-up campaign to make sure you are making progress towards your goal of home ownership.

To get more information on the program, please view this short 3 minute video at Path 2 Buy.  There are also other short video clips for you on the site covering topics such as renting versus owning, tax benefits of being a home owner and when is the “best time” to buy a home.

Baxter Scruggs is a mortgage banker offering all types of residential 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

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Fresno County – zero down payment program

 Parts of Fresno County – Zero Down Payment Home Loans Available

Attention Homebuyers,

Are you looking to buy a home in Auberry, Caruthers, Coalinga, Easton, Firebaugh, Fowler, Huron, Kerman, Kingsburg, Mendota, Orange Cove, Parlier, Reedley, Riverdale, San Joaquin, Selma or Squaw Valley? There areas are eligible for the USDA Rural Housing

This program offers:

Zero down payment

No Loan Limits (minimum sales price $150,000)

You do not need to be a first time home buyer

Seller can pay closing costs

If you would like more informaiton on this or other loan programs, please contact me at the numbers or email below.

Baxter Scruggs is a mortgage banker offering 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

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USDA Eligible Areas to change October 1st, 2014

After a few false starts, and many delays, USDA has once again given a date when the new eligible area maps will be implemented.  Here is the latest announcement from the USDA office:

Barring Congressional action, USDA will begin using 2010 Census data to determine eligible rural areas for Rural Development housing programs on October 1, 2014.  Changes to eligible areas can be viewed by selecting the applicable program listed under “Future Eligible Areas.”

 NOTE:  Complete applications received prior to October 1, 2014, will continue to use the existing eligible rural area definitions based on 2000 Census data.

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

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USDA Eligible Areas changes effective January 15, 2014

The expected changes to USDA eligible areas tied to the population figures from the 2010 census had been delayed further, past the anticipated January 15th, 2014 date .  Current eligible areas have been determined by the 2000 census numbers, and changes using the 2010 census were due to take place beginning October 1, 2013.  But with the government shut down, and the subsequent appropriations act signed into law, current eligible areas were to be extended through January 15, 2014.

USDA has now announced the current maps will remain in effect until further notice, which could be days or months.  While the new maps are not certain yet, USDA has a preliminary maps available here preliminary maps, for the anticipated new eligible areas. 

This was the actual release from the USDA:

January 9, 2014

 Status Update on Proposed Changes to Eligibility Areas Based on 2010 Census Data

 As January 15, 2014 approaches, many are wondering whether Rural Development will be implementing the Future Eligibility maps based on the 2010 Census data.   At present, the eligible areas remain unchanged and we continue in a “holding pattern” until either an appropriations bill or a continuing resolution is passed.  Notification will be sent pertaining to changes to this status.

 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

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USDA Changes Effective October 1st, 2013

There are concerns in the real estate community that the USDA home loan program is going away in September of 2013.  This is not happening.  What is happening is the eligible area maps are being redrawn based on the 2010 census figures.  The current maps are based on the 2000 census information.  Changing to the 2010 census figures will cause some areas that have seen population gains over the last 10 years to no longer be eligible  for the USDA program.

More information will be forthcoming as we get closer to the date regarding the new eligible areas and what dates contracts have to be entered in or conditional commitments have to be issued by the USDA in order to fall under the current eligible areas.

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

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