Arizona USDA Home Loan Program, Who Does them – Purchase and Refinance

Who does the USDA purchase or refinance home loan program in Arizona? This is a 100% no money down payment home loan program in an approved lending area such as:

Thank you for finding our video about the usda purchase home loan program and refinance program in the state of arizona go ahead and watch the whole entire video comment like and share and call me at the end of the video with any questions about the usda home loan program i’d love to connect with you and explore this option more hello i am so excited to show you a

Great program called the usda if you are looking for a property purchase and you’re very limited on funds which means you really have enough funds for the down payment for the closing costs the usda program is the program for you to purchase a property you also can refinance on the usda you got to be an existing usda home loan program borrower but we’re going to talk

About purchases this program is eligible for those individuals that qualify when it comes to income assets and credit the one caveat um to this is the property must be in a approved usd lending area so what you want to do is i’m going to have the link below on the usda this link right here i’m going to have it below because it’s such a long link i want to keep that

Link below for you to click on you and it’s what you’re going to do is and land up on this page you want to press the accept button and it needs an address so you need to find an address of a property and i right now i’m just going to put an address in and you’re going to press go this is going to be a non-approved address so it’s going to say this address is not

Located in an approved area so i’m licensed in the state of california arizona and utah so if you’re looking to purchase a property in those states let’s have a conversation about the usda the darker areas here are not usda approved as you scroll out you can see the i’m going to get rid of that but all the mountain communities some of the desert communities are

Going to be approved here in california see meat valley in the way of a homeland winchester lake matthews all these areas are approved desert hot springs uh thermal mecca i know a lot of people are not moving to those areas but if you’re looking down into like rainbow valley center these are some great areas to purchase a property um there in california so you can

See every time i move the map it um darkens the areas that are not approved so if you go out here to imperial county salton sea these are not highly densed uh place where you’re going to find a lot of people purchasing or living but cavazon here in california and i’m going to scroll over to arizona blyth is approved quartzite arizona let’s scroll down a little

Bit as you can see most of metro phoenix and tucson are not approved for usda but if you’re looking in areas like uh wickenburg i think whitman may be the scroll line a little bit more whitman morristown and if you uh go up to 17 freeway in arizona you can start seeing spring valley um prescott valley is not approved but chino valley is you got jerome cottonwood

Verde village even sedona is approved if you can find something affordable up there but usda is a great great program for individuals to have like i said limited in down payment funds you’re gonna have to have funds to open up escrow called an emd an earnest money deposit um so you will need that um but pass the emd the earnest money deposit you gotta talk to your

Realtor typically it’s one percent of the purchase amount purchase amount of two hundred thousand two thousand dollars but talk to your realtor about what you want to offer to open up escrow with and any of those funds that you open up escort with will be applied for the down payment if you want to put one or towards the closing costs um so usda is just a great 100

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Percent no money down program now i’m going to scroll out and go up into utah area but you can see a lot of places in utah are approved if you go along the 15 freeway beaver milford minersville all these areas are approved but as i get closer to salt lake you can start seeing the shaded areas that are not approved for usda but look at all these area park city

Huber city you got morgan uh utah uh brigham city utah these snowville park valley like i said these are not heavy populated areas but if you are looking in these um approved areas then you are able to purchase a property utilizing the usda home program as long as you qualify for when it comes to income assets like for the debt if you want to put closing costs

This program will allow you to be able to finance closing costs the caveat as i said earlier it’s got to be an approved area but another caveat for us to finance your closing costs is if you get into escrow on a property let’s say park city utah and that property is um in contract with you for two hundred thousand dollars and it appraises for uh two hundred ten

Thousand dollars we can use that freed up equity in that uh property from the 200 to the 210 there’s ten thousand dollars worth of equity we can utilize those funds to pay for your closing costs pay for some small repairs on the house so here’s park city utah if you’re looking to purchase there and you qualify for the usda it’s a great program to explore don’t

Count it out call me when we talk about the usda program to make sure you qualify for it of course you’ve got to meet the minimum requirements for the usda on the underwriting guidelines so and they can change from now i do this video to when we connect but i like to connect with you if you’re looking in these particular areas and if you’re open to move to these

Areas and commute into work or if you’re a remote worker this is a perfect program for you if you want to get out of the big city hustle and bustle and live in an approved usda area to be able to purchase a property with no money for the down payment but going back into we got utah and arizona’s the places i am licensed to do business as well as california but um

One of their products big city kingman arizona and you can purchase needles california you can purchase congress arizona quartzite under some places down in yuma little areas of yuma gila ben arizona eloy and arizona wilcox arizona green valley arizona tombstone bisbee those are all approved usda but i’m going to put the link to this site to to get it where

You say approved uh property eligibility you can have a starting point you can put your address it just needs a starting point you can move the map around like what i am doing right here if i want to purchase in the city of wickenburg the whole city of wickenburg but you need to find an address in which in wickenburg that’s approved and it will come up so what

I’m going to do now is i’m going to find a property i’m just going to go get a brand of property in wickenburg and i’m going to put it in here that’s up for sale i’m going to grab this property i’m going to put it in this address i’m going to put go and what that’s going to do is this address is located in eligible area so right there you’re starting off good that

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You have an approved home here on mojave street in wickenburg arizona that is approved so if you want to narrow this down to places like in california where it’s kind of spotty it’s in in approved areas and not approved areas like uh paris is not approved but then you go to mid valley or nuevo or lake matthews that are surrounded by an approved air the unapproved

Areas and you want to purchase in those particular areas like nuevo homeland um green acres winchester you just put the address in and it you can narrow right down to the street and you can find the cutoff um right here in nuevo california you can find where the cutoff is so you can purchase all the way to montgomery avenue and hanson avenue and nuevo so you’ll

Know that that’s approved so some places are not but you need the exact address you put it in here which is the link below and it will show up that you’re an approved area usda is a great great program um let’s talk about the conversation of having uh in a belgian area in the usda territory so you’re limited on funds to purchase a property you don’t need that

Much funds to buy in the usda you can’t have the sellers pay up to six percent of your closing costs that’s a lot of money we won’t need that much money but you can purchase a property essentially with an appraisal fee and a home inspection fee if all everything aligns right like you’re buying it at 200 appraisals for 210 we can use that ten thousand dollars free

Effect equity to pay for your closing cost we won’t need that much money but that can pay for your closing costs you get your earnest money deposit back as long as it’s not utilized um the home inspection and the appraisal is the only out-of-pocket cost that you’ll have to come out of a pocket with which can range anywhere between five to a thousand dollars as i

Do this video so you can essentially purchase a property for a thousand dollars as long as um the seller maybe pays for your closing costs or that value comes in higher on the appraisal than what you agreed to purchase the property for on a residential purchase contract so but speak with your realtor about making offers what i do is i’m going to get you approved

In this usda territory but we’ve got to first find out where you want to live if you want to live like here in california you want to live like a real valley or riverside those are not approved areas but if you’re willing to go a little bit further out like in lake matthews or meat valley those are approved um areas that we can look at properties um now they’re

Not an abundance of properties in those typically in um approved usda territory like kingman has more properties in it than maybe wickenburg will but if you’re looking at kingman arizona let’s look at the usda program call me i’d love to speak with you about that my direct cell phone number and all my contact information is going to be below is 909 503 5600 but

The usda is a great great program we don’t do too many of them at least in the states of california arizona or utah because a lot of a lot of people do not know about the usda home loan program to purchase purchase on the united states department of agriculture not a lot of people know that so that’s where you and i can connect and we can explore this great program

For you as long as you meet the income requirements the debt to income ratio requirements the credit requirements um you have to have a certain credit score i don’t like to quote guideline programs because they can’t change debt ratio you’ve got to meet a certain death rate ratio like you do any other program and uh income there is an income limit and that changes

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As well so i don’t want to quote you today because it can go up it can go down as i do this video but if you’re making a million dollars you’re fine you don’t need the usda program there’s an income cap anyways on that um down payment funds it can be opened up with earnest money deposit so you do not need a lot of money to purchase a property but they have to be

In an eligible area and that’s what i did this video for as you can see like here in southern california there’s a a lot of shaded areas but the mountain communities are open and some of the desert communities like desert hot springs yucca valley 29 palms are all approved for the usda uh home loan program borrego springs i’ve been down to brego springs there’s

Not a lot of homes down there braley there’s not a lot of homes in brawley so if you’re looking to purchase down there though and live in in a rural community look at the usda you don’t you have to be default to an fha program or va a usda is a great alternative program um to look at um but let’s talk here is the website and approved eligible areas you’ve got some

Income limits if you want to go here and check those uh income limits out uh i’m i’m gonna down i don’t want to download because what it’s going to do is it’s going to open it up here um and before they used to have this clickable where you can click on the state and it will go to that state but um let’s just go down to arizona real quick a for out the alabama one

But arizona uh properties um see here arizona so like uh tucson we’re gonna go off the moderate income line so this line here we’re going to go off of here so up here is one to four people you can make this much money up to up to not exceeding five to eight um individuals in the household you can make up to this amount here i don’t want to say anything because

I want you this can change but this is as of um where was the date on the bottom of this right here may 12th of 2021 that can go up or that can go down so we’ll have you can definitely go to this section here though income limits there’s also an income eligibility section that you can go and you can start doing like um arizona it’s gonna ask you what county and

Then you just start filling in the blanks that they ask you here you just start filling in the blanks and hit next and it’s going to say yes you’re approved and no or no you’re not approved but income limit right there is going to tell you which ones how much you can make not to exceed this amount and these are gross amounts they’re not net amounts they’re gross

Amounts but if you have any questions on the income let’s have a conversation about that and connect my name is nathan rufty here in california arizona and utah that i am licensed in i’d like to connect with you if you have those limited funds and if you’re open to live in an approved um area for the usda let’s talk natharrefty at 909.503.5600. thank you very

Much thank you for watching the entire video about the usda home loan program in the state of arizona remember comment like and share and call me with any questions regarding this program if you wish to explore further regarding the purchase or refinance on the usda home loan program here in the state of arizona i look forward in connecting with you

Transcribed from video
Arizona USDA Home Loan Program, Who Does them – Purchase and Refinance By Loan Officer – Mortgage Home Loans