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  • NO Down Payment . . NO Mortgage Insurance . . NO Cash Reserves . . . You CAN still get a loan for the home of your dreams!

NO Down Payment . . NO Mortgage Insurance . . NO Cash Reserves . . . You CAN still get a loan for the home of your dreams!

The New Jersey USDA Rural Development 502 Guaranteed Housing Loan Program offers special advantages and can make owning the home of your dreams a reality.  This program has strict parameters and is eligible only in certain counties within the state, so please feel free to give us a call if you’d like to discuss what your options are in regards to the 502 Guaranteed Housing Loan Program.

A Brief Overview of the Programs Offerings:cottage-535753_640

– No Down Payment

– No Mortgage Insurance

– No Cash Reserves Required

– No Prepayment Penalty

– No First Time Home Buyer Requirement

– No Limitation on source of funds for closing costs

– No stated maximum loan amount; maximum loan based on repayment ability

– Seller Contribution Limited 6%

– Loan up to 102%* of appraised value. . Not the lesser of Sale Price or Appraisal

– New & Existing Homes OK.

– Fully Amortized 30 – year fixed rate loan

– 100% gifted closing costs or down payment assistance is permitted

– Loan amount can include closing costs and repairs up to appraised value

 

To inquire about your options, call either . . .

Smitha Ramchandani – (973) – 953 – 7777 (mobile)   Rahul Ramchandani – (973) – 615 – 6504

smitha@morris – homes.com                           RahulR@morris – homes.com

National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic Counties.

www.SRRealEstateGroup.com | www.Morris-Homes.com |www.TheTownhouseExpert.com | www.NorthernJerseyRealEstate.com

 

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Our agents write often to give you the latest insights on owning a home or property in the local area.