USDA Loan Program: Am I Eligible and Is It Right for Me?

Portland_Realtor

Not as common as FHA or Conventional financing, the USDA loan program is still a wonderful opportunity for many home buyers.  If you are open to purchasing a property in a rural community, you may qualify for no-money down financing through the Rural Housing Service (RHS), an agency of the U.S. Dept. of Agriculture (USDA).

This is a great option for many home buyers but it is also important to keep in mind that these programs take a little longer to close than other types of financing.  Typically you will need a 60 day time frame to close from the time your offer is accepted to the time of closing/possession.

Here are some quick facts:

  • No down payment required
  • Families at 115% or below median income may be eligible for guaranteed loans[1]
  • Affordable interest rates
  • Sales Price and closing costs can be financed up to appraised value
  • Low up front guarantee and annual fees, eliminating monthly mortgage insurance payments[2]
  • Gift funds may be used to pay some closing costs
  • Seller may contribute up to 6% toward closing costs for guaranteed loans

If you are interested in getting more information about this program, please contact me and I will refer you to a qualified mortgage broker.  Click here for USDA property eligibility map.

If you or someone you know is thinking about buying or selling Real Estate, please give me a call.  I look forward to assisting you and providing a positive experience with your home buying or selling.

Victoria Marchese |victoria@victoriamarchese.com | 503.780.1937 | Website


[1] Maximum loan amount limits apply. The home must be in a designated RHS service area.

[2] The guarantee fee is 2.0% of the loan amount. The guarantee fee may be financed into the loan amount. Annual fee is 0.5% of the unpaid principal balance.

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FSBO Vs. Hiring a Realtor

Portland_Realtor

According to the NAR only 9% of sales were For Sale By Owner in 2013? There are many reasons to hire a professional Realtor vs. doing it your self.  Below are just three reasons why you should consider a Realtor to sell your home.  For more details click here.

  1. Higher Sales Price: On average homes listed with a Realtor will sell for 23% more than a FSBO.
  2. Less Time on the Market:  Your home will sell on average 22% faster if you list with a Realtor.
  3. Less Stress on the Seller: 70% of sellers said they had difficulties during the transaction.  Realtors have a number of resources to help along the way.

The time is now to get your home on the market and SOLD.  Give me a call to set up your pre-listing appointment today!

If you or someone you know is thinking about buying or selling Real Estate, please give me a call.  I look forward to assisting you and providing a positive experience with your home buying or selling.

Victoria Marchese |victoria@victoriamarchese.com | 503.780.1937 | Website

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Home in Need of Repair? Check out the CEP

Portland_Realtor

If you are a homeowner in N/NE Portland then you may want to look into the Community Energy Project program offered through Portland Housing Bureau.  Through this program you may qualify for repairs including; broken window replacements, electrical and plumbing, roof, furnace, gutter replacements, porch and code violations.

To qualify for this program, you must meet three guidelines:

  • Live within City of Portland (different areas have different numbers of slots, so call (503) 284-6827 to see if they can serve your area, as this changes throughout the year)
  • Have somebody living in the home who is 55+ years old or has a disability
  • Meet income guidelines

If you decide to use their services offered, they will make a visit to your home to conduct an audit, and work with you to come up with a plan to improve the comfort level of your home.  All of their in-home services are free. There are some basic steps to receive service for this program.  Click here for more information. You can also contact Tamara at admin@communityenergyproject.org or call 503-284-6824, extension 104.

If you or someone you know is thinking about buying or selling Real Estate, please give me a call.  I look forward to assisting you and providing a positive experience with your home buying or selling.

Victoria Marchese |victoria@victoriamarchese.com | 503.780.1937 | Website

community energy project

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Celebrating Our 20th Anniversary!!!

Meadows Group Inc., Realtors, friends and family, came together on Thursday September 18th to celebrate 20 years in the Real Estate Industry.  The weather cooperated while we all enjoyed some wonderful BBQ from Howard’s BBQ & Catering and some excellent guitar music from Tim Woster!  Congratulations to Heather Adams, Tammy House and all of our brokers for their 20 years of continued success!

  • 1993: Al Robertson Broker of the Year
  • 1994: Meadows Group Inc., Realtors Incorporates
  • 1996: New Westside Office Opens
  • 2001: Westside Office Expands
  • 2002: 1000+ Transactions Closed
  • 2004: New Eastside Office Opens
  • 2005: 1500+ Transactions Closed
  • 2005: Eastside Office Expands
  • 2005-2007: Westside Office Highest Producing Office in Beaverton
  • 2007: Eva Sanders Broker of the Year
  • 2009: Matt Gorman Westside Managing Broker
  • 2010-2011: Eastside Office Highest Producing Office in SE Portland
  • 2013: Eva Sanders President of OAR
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