Musings on Food, Fun & Real Estate in the Mother Lode
Here’s one more thing to love about Tuolumne County~ because the county is considered “rural” we have access to 100% financing.
Guaranteed Rural Housing “GRH” loans offer 100% financing. They are also known as USDA loans because they are administered and backed by the United States Department of Agriculture. The purpose is to help the development of rural areas.
In addition to 100% financing, GRH loans do not have monthly mortgage insurance. As a result they cost less money up front and in monthly payments as compared to FHA or conventional loans.
There are requirements. For example, the purchase can not cost more than $417,000 and must be single family, owner occupied. There are also a minimum FICO score and maximum income requirements.
You can search for qualified homes in Tuolumne County on my website at http://www.goldenhillsrealty.com and if you contact me I can connect you with a lender who can walk you through all of the requirements.
100% financing in combination with the Home Buyer Tax Credit, low interest rates and low home prices make this the perfect time to buy in Tuolumne County!