Roger Welch, with Equity Resources, spoke about FHA, Conventional, and USDA loans to CENTURY 21 Frank Frye Real Estate agents over lunch on May 19 at the real estate office.
Welch says there are three main requirements for Buyers qualifying for USDA loans:
1. Property must be located outside of city limits.
2. Household income requirement. 1-4 family members - income can't exceed $70,750. 5-8 family members - income can't exceed $93,500.
3. Credit Score Required - 620 or higher middle credit score for both borrowers.
4. House must be in good condition - no deferred maintenance.
For more information on USDA loans, contact Roger Welch at Equity resources at RWelch@callequity.net or 740-349-7082. http://www.callequity.com/
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