I was wondering if anyone knew anything about USDA mortgage in Maryland? I’m looking for details if possible?

Posted on Feb 20, 2013 in FHA Information

HomeRefinance Plan by Government Tops 2 Million
… FMCC, information pills more about XHB, medical XLF · Tweet. NEW YORK (TheStreet) — The government's Home Affordable Refinance Program (HARP) has helped a little over 2 million borrowers refinance their mortgages at lower rates, the Federal Housing Finance Agency said Tuesday.
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Want a Stronger Economic Recovery? Encourage More Home Refinancing
Finding ways to encourage refinancing is good policy. The Federal Reserve has done its part: Its asset purchase programs have helped to lower long-term interest rates to historically low levels. The interest rate on new 30-year fixed-rate mortgages is …
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Refinances surge under Obama program for underwater loans
The number of homeowners refinancing their loans through a popular federal program that allows underwater homeowners to get new rates surged to more than 2 million in November. In November, almost 130,000 homeowners refinanced their loan through the …
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Question by QA Expert: Help how to ask Lender to modified loan terms?
I am in financial diffulty and need help on how to ask lender to change the terms to a more affordable monthly payment without increasing principle balance. Currently pay uptodate, this site no late payment. I’m in california. My lender is Countrywide.
If not, I will go to foreclosure.

Best answer:

Answer by Shawna Marie
If your financial difficulty was caused by a true hardship (loss of job, spouse dies, disability), then the lender might work with you on a hardship program. If not, they can re-write your loan, for LOW costs, but it won’t be no cost. It’s called a stream-line refinance, which Countrywide offers. You need to call Countrywide and speak to a loan rep and ask them about it. In most cases they don’t even require an appraisal. Make sure you do it before you fall behind in your payments. CALL THEM RIGHT NOW!!

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Question by Seeker…: I was wondering if anyone knew anything about USDA mortgage in Maryland? I’m looking for details if possible?
I’m a first time Home buyer ex Realtor and I understand a little bit about it. I did not have my Maryland License but I’m looking to get answers for my Mortgage lender who seems can’t find any??? Thank you for your help, information pills I greatly appreciate feed back

Best answer:

Answer by Doctor Deth
USDA? You mean US Dept of Agriculture? since when do they have anything to do with mortgages?

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One Comment

  1. What kind of details do you need besides the following.

    1) No down payment required
    2) Need a 620 mid score
    3) No monthly mortgage insurance
    4) Home must be in a USDA designated area – This can be looked up online
    5) Can use seller concessions for closing costs or you can roll them in to the loan as long as there is room*
    6) The loan does have income restrictions – This can be looked up online
    7) Only offers a 30 year fixed loan
    8) Is similar to FHA with property condition requirements.
    9) Also has a streamline refinance option for down the road
    10) Very strict on the maximum debt to income ratio.
    Does that help?