It's not uncommon to see buyers with less than 720 credit scores get pushed through the hoops only to find that the loan they once had.........no longer exists.

No doubt about it: the ability for the Average Joe to get a mortgage in today's credit environment IN A TIMELY FASHION has dramatically changed over the last 12 months!  An now, it's a fact that the difference between a 720 mid score and a 620 mid score can cost a buyer an extra 1.25% on the mortgage rate or 2% additional points in cost.  On a $250,000 loan, that's an additional $5,000 which can lower the purchasing power by up to 28%!

There is a solution - THE USDA RURAL HOUSING LOAN!

• No Declining Market Worries - Properties in Florida have been classified as DECLINING and are now requiring more money down.
• No Credit Score Worries - Buyers can maintain their purchasing power whether they have a 720 credit score or a 620 credit score.  The buyer doesn't get a higher fee or rate with a lower score!
• No Worries for Buyers with No Credit Score - Even buyers with no score whatsoever can qualify for a home with no money down!
• No Down Payment Worries - Finance 102% of the appraised value!
• No Seller Concession Worries - Recent conventional guidelines limit the maximum seller concessions to 3% in most cases.  There is no limit to seller concessions for our Rural Housing program, and that can make a tight deal work...and save a lot of cash!
• No Monthly Mortgage Insurance Worries - Keep payments lower than an FHA or VA loan (funding fee is lower on Rural Housing than it is on VA)
• No Reserve Requirements and No Minimum Borrower Contribution
• Available for New Construction, as well!

With prices as low as they are, a Rural Housing loan allows for people who didn't think they could buy a house to purchase a home with no money down and payments that they can afford........and that are fixed for 30 years!

You can apply with Northstar Mortgage Group for a Rural Housing loan and be in your new home within 2 weeks!