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$84,900 3 bed 1 bath – Portland, Maine
273 Ocean St
South Portland, ME, 04106
$84,900
3 Beds
1 Bath
Single Family
1.5 Miles
Description
273 Ocean St, South Portland ME 3 Beds/1 Baths
Maine USDA Home Loan
It is hard to beat the flexibility and great rates of Maine’s USDA rural housing loans. These programs are geared toward home buyers who live in rural areas of the Country (that’s most of Maine according to USDA)and who have little to no money to put down. USDA rural housing loan programs offer flexible, common sense underwriting guidelines, relaxed credit requirements, no PMI (private mortgage insurance) options, the ability to finance closing costs into the loan amount, lenient seller concessions, and rates that are comparable to, if not better than, conventional fixed rate mortgage programs.
Are you ready to own a home but are not sure you will qualify due to lack of a down payment?
A Maine USDA Home Loan may be perfect for you! USDA Rural Development can extend 100% financing opportunities to Maine individuals and families.
Advantages of a Maine USDA Rural Housing Loan include:
* 102% Financing (Up to Appraised Value)
* No PMI
* No Down payment Needed
* Not just for first time home buyers
* No reserves required
* No limit on seller concessions
* 100% Gift Allowed
* Liberal compensating factors
* Flexible credit score guidelines
* No maximum purchase price limit
* Repairs and improvements can be included in the loan
* Competitive fixed 30-year rates
The Maine Rural Development guaranteed loan program has assisted thousands of customers just like you. Contact me today to be pre-approved for a Maine USDA Home Loan!
Should you talk to a mortgage professional before house hunting?
It’s that time of year. New couples are thinking about that first home together but should you speak with a Mortgage professional first?
Absolutely! Even if you haven’t so much as picked out houses to visit yet, it’s important to see your mortgage professional first. Why? What can we do for you if you haven’t negotiated a price, and don’t know yet how much you want to borrow?
When we pre-qualify you, we help you determine how much of a monthly mortgage payment you can afford, and how much we can loan you. We do this by considering your income and debts, your employment and residence situations, your available funds for down payment and required reserves, and some other things. It’s short and to the point, and we keep the paperwork to a minimum!
Once you qualify, you’ll have a Pre-Qualification Letter (your real estate agent might call it a “pre-qual”), which says that you qualify for a certain amount.
When you find a house that catches your eye, and you decide to make an offer, being pre-qualified for a mortgage will do a couple of things. First, it lets you know how much you can offer. Your real estate agent will help you decide on an appropriate offer, but being pre-qualified gives you the confidence to know you can follow through.
More importantly, to a home seller, your being pre-qualified is like you walked into their house with a suitcase full of cash to make the deal! They won’t have to wonder if they’re wasting their time because you’ll never qualify for a mortgage to finance the amount you’re offering for the home. You have the clout of a buyer ready to make the deal right now!
With today’s FHA and USDA RD, many people who have never before qualified may for the first time be able to buy that dream home!
You wont know unless you ask 
