Real Estate Professionals Redding

As an agent who has taken a specific interest in assisting first time buyers I spend quite a bit of time making sure that I am knowledgeable on financing options that make this goal possible for my clients. Many of the clients who come to me have been told that buying is not a realistic option for them until they save up a considerable amount of money for a down payment. While saving money is always a great idea you should know your options.

First time buyers who have not been able to save up a down payment should know that there are still 100% financing options out there that can help get you in a home during this buyers market cycle. USDA Rural Development Housing Section 502 loans are 30 year loans that require no down payment. USDA loans are primarily used to help low-income individuals or households purchase homes in rural areas. Most of the area outside the Redding city limits would fall in this category. The published income limits are;

 

Family Size        1          2           3           4           5           6           7           8
LOW INCOME 30150   34450   38750   43050   46500   49950   53400   56850
MOD.INC-     49550   56600   63700   70750   76400   82050   87750   93400  

 

Contact us for more information on USDA financing and a list of USDA eligible homes.