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You can buy a home in Frederick County with 100% financing.  Certain parts of Frederick is considered rural, and one of the best loan program available that will allow a buyer to finance 100% is the USDA loan.

Over the weekend, I sat down with my sister and brother-in-law to discuss their interests in purchasing a brand new home in the Villages of Urbana Highland, Frederick.  Surprisingly, the property which was priced in the mid-$400′s was eligible for the USDA loan.

However because my sister and brother-in-law makes more than what is considered moderate income, they are ineligible to get the USDA loan. They will get an FHA loan instead.

But if you are a buyer with an annual adjusted household income of less than $92,000, you may be eligible to buy a rural property in Frederick County Maryland for 100% financing.

Some Restrictions:

• Rural property
• Household income can’t exceed $92,000
• Have at least 620 credit scores

USDA Loan Features:

• 100% Financing, allowed up to 102% in some cases
  
• 6% Seller Contribution toward closing costs allowed
• No monthly Mortgage Insurance

Call me at 240-447-2376 to learn more about this program.