Posts Tagged ‘USDA’

USDA Areas Zero Down Home Loans to Remain Secure Through 2020

Tuesday, February 25th, 2014

Recently a farm bill was passed that significantly and positively impacts rural areas; some of which aren’t so rural, in many ways, zero down loans being one of them.

Areas like Sandy, Estacada and Newberg qualify for what are called USDA loans (yes, that’s the US Department of Agriculture) that offer very competitive rates and to many, more importantly, 0% down to buy a home in these areas.

When I was working a large development in Estacada (and another smaller one in Sandy) these USDA loans were making up a large number of buyers home loans in those developments, new home, “in town” (well, Estacada and Sandy anyway), and nothing down. You could even still have the seller cover some closing costs and end up paying very close to nothing to get into a home.


Portland Bank Owned Homes For Sale: Foreclosures for Today. Several in here for Gresham and Lake Oswego!

Saturday, July 24th, 2010

Today’s list is quite big for a Saturday. Remember that this list includes just listed AND price reduced! This list does not include short sales (short sales are not bank owned homes). There’s one in here for Sandy, remember that Sandy qualifies for USDA zero down financing! CLICK HERE to see Today’s Bank Owned Homes for Sale!  Remember, if you need an amazing Realtor call the McDonald Group Realtors! (503) 577-9395.

LENDING 101 – Loan Types, Bankruptcy, VA, FHA, USDA….

Tuesday, June 15th, 2010

Steve Nassar of Alpine Mortgage (503) 805-5582 has shared the following great info on all sorts of lending topics. Read on- 


  • Although FHA has a minimum FICO score of 580,  the industry has dictated a minimum 620 score with most investors requiring a minimum of 640.
  • Minimum Down Payment is 3.50% and must come from the buyer or be an acceptable gift to the buyer.
  • Seller can contribute up to 6% of the sales price.
  • No Non-Allowables required to be paid by the seller.
  • Buyer can currently be in a Chapter 13 Bankruptcy and still purchase.   They can also purchase as soon as three years after a foreclosure and two years after a Chapter 7.
  • It is an assumable loan (important when rates go to 8% and they are at 5%)
  • Buyer can have collection accounts and not have to pay them off
  • Don’t forget that beginning this Friday June 18th we will also have the FHA 203k loan program available in-house with our own underwriting, docs and funding department in complete control.                                                                        


Zero Down Lending and What Rural Area Qualifies

Friday, February 6th, 2009

boonies2In a recently posted blog I talked about USDA rural loans that require zero down…. well now I have a link you can go to, type in an address and confirm if a specific home or area qualifies… I know Sandy, Oregon makes the list!  Click the link below and enter a home address under Property Eligibility.


Still 100 Percent Financing in Rural Areas. Includes Sandy Oregon.

Wednesday, January 28th, 2009

Just a reminder that USDA has a program that offers 100% financing! I’ve seen it work for buyers and there are no funky mt-hood1 (more…)