Very Good News for Frederick MD Real Estate Homebuyers!! 

As reported by Sun Trust Mortgage

The Rural Development Guaranteed Loan Program has been reinstated with some changes.

Here is an overview:

• 60 Day Lock, 4.5% with zero points/ 30 Year Fixed Rate
• 100% Financing
• No cash reserves required
• Seller Contributions to 6%
• The one time guarantee fee has been increased to 3.5% which can be financed – this is really not bad considering the rate they get with no monthly MI, having it upfront allows for a more affordable payment.
• Borrowers do not have to be first time buyers (can not have current “dwelling”)
• Income limit is 115% of median income  ($92,600 per year for a single person in Montgomery or Frederick County)
• Community Seconds Allowed
• Use the form below to see if a home is eligible (please include the home's address)

If you’d like to speak with an experienced Frederick Maryland real estate agent who has your best interest in mind, please feel free to contact me with any of your real estate or mortgage questions toll Free, 24/7, at 1-800-395-9636 or E-mail me at bill@homes2price.com.

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