The USDA Loan, Have you heard of the mythical ZERO down payment loan?well, here is one! The USDA loan is available throughout our Charlotte and South Charlotte area in very specific sections. You will find this program available to purchase as a primary residential home from Gastonia, Raleigh, Charlotte, Lancaster and both North Carolina and South Carolina state lines… between others.
Are you ready for a zero down payment program if you are this video is for you hey y’all welcome to my channel my name is rodolfo duke real estate broker in south carolina and now carolina if you are new here don’t forget to subscribe and you can see our next videos coming up every week what i can do for you i can show you beautiful homes just like this we’re
Gonna be exploring in this video financial tips and ways how you all can get a home we all need one right so let’s roll so today we’ll be talking about usda loans what i said usda loans well this is a zero down payment program that is available for anybody that lives in the urban area the suburban areas do you like the pastures do you like the green that you see
Around well you might be able to qualify for one of these loans the u.s department of agriculture wants you to own a home they want you to live in a home but this is one of the least known programs available out there so let’s talk a little bit about it let’s develop this and guess what it is available in the charlotte area who will know that right so we’re gonna
Explore what areas are available if you’re interested that hang until the end because i’m gonna show you the map where you can find everything qualifying for a usda loan they have many many income limits where you can don’t go crazy about it because i’m going to post everything in the link below and you can have more idea where it goes it will depends about how
Much you make how many people live in the household so don’t get too crazy about if you get confused give me a call and we put you together with a loan officer local all right the usd air department wants you to live there so there are a few things that you have to consider one make sure this is your primary races this is not a loan that the people give you for
Zero down payment down you’re going to rent it to your cousin or to whoever it is right two you need to be a us citizen you can also be a non-citizen national or a qualified alien such as a permanent resident three monthly payments they can vary out greatly depending on your credit score ultimately what day one they want you to have above 680 on the credit
Score if they have you have between 680 and 640 it will be a more tedious and more uncharted territory to navigate for everybody as a rule they want you to have about 29 of your debt income so let’s say for example uh your interest your monthly payments your taxes it will have to be 29 and they want you to be above 40 41 again this depends on the area where you
Are right on the other side they want you to be in the general depths 40 41 meaning credit cards meaning car payments rents whatever else is balance so that’s why it’s very difficult to qualify and that’s why you don’t hear a lot about it but if it’s available and you qualify we’re not using a zero down payment it is ready for you there are so many points in
Characteristics on this loan this maybe that’s why there’s no wide knowledge about in our area but again if you want to try for it and if a zero down payment down why not give it a shot up let’s discuss a few or more points of this in our area the home has to be less than 2 000 square feet yes you’re gonna find it so this is one of the points that you have
To see second loan varies by area so depends where you live i’m gonna link again that link below for you to see what the limit of your area is you can go from north carolina south carolina even into other areas like california for instance there are some loans that qualify from let’s say a hundred thousand dollars to five hundred thousand dollars depending on
The area where you are for example california or new york or upstairs where everything old real estate is more expensive there’s a probably going to be the brackets where you will see if you have enjoyed this video so far please subscribe hit the bell button like that you don’t miss out any of the videos that we launch every week and you will learn about real
Estate and finance right so are you ready for this well let’s look it over we’re just going to search usda loans and active in our area just google it eligibility and we’re just gonna map it and then we’re gonna put the zip code in wow incredible you gotta see this uh let’s say i’m in charlotte four meal indian land so i can just put two nine seven zero seven or
If you know the map you definitely just click search with an address now remember charlotte is a very spotty market if i can say it so let’s just google here so what would you do is you’re gonna put the address here usually there are some pockets in the north carolina and south carolina so what you do is you say one two three main street charlotte north carolina
Zip code and you will enter in the search button and it will tell you if it is or is not eligible it’s that easy what it took me it took me 30 seconds just to google it and just search for it but all right so next step is finding your local realtor my name is rodolfo duke north carolina south carolina broker we’re gonna put you together with a local loan officer
Who knows all the programs and anything that is available in our area usda loans are very pocketed like i just say but you’re welcome to apply and we’re gonna get you home well thanks for watching if you have any questions please comment below i do reply with every freaking question that i come up so don’t forget about that alright please subscribe and i will
See you next video ciao you
Transcribed from video
USDA Loan, a $0 yes! zero downpayment loan By Homes in Charlotte Rodolfo Duq REALTOR