The Snohomish County real estate market is heating up!
Last week, the Senate and House approved FY 2013 Continuing Resolution which, among other things, would allow USDA loans to continue through September 2013 to current designated rural areas. Here is the information and maps of areas where buyers can purchase a home in Snohomish County using a USDA home loan. This program is available to borrowers who meet certain income limitations.
Zero Down, no down payment required
- No monthly private mortgage insurance (PMI)
- Very competitive 30-year fixed rates
- 640 minimum credit score required
- Flexible underwriting guidelines (see me for specific questions… employment, credit, debt-to-income..)
- Up to 6% seller contribution
- Can use to buy new construction
- Can use to finance a REO or short sale
Snohomish County USDA Loan Eligibility Map