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:
– 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.