If you are thinking of buying a home in Warrick county and fall within the income guidelines, you may want to use a rural development loan.  Rural development loans are 100% financing.  Here are the income guidelines:  $49,550 one person, $56,600 tow person, $63,700 3 person, $70,750 4 person.  The rural development loan is not credit score driven on interest rate and fees.  2% of the funding fee can be included into the loan amout.  No PMI in the payment.  Closing costs acan be included if the home appraises higher than purchase price.  Repair expenses can be added if home appraises higher than purchase price (escrow of repairs have to be approved by underwriting.)

29% debt to income on houseing and 41% debt to income on houseing plus other debt.  Homebuyers counseling is required but can be accomplished at online sites.  There is a test after online course.  The seller can pay 6% of purchae price for buyers closing costs. 

If you are thinking about buying a home in Warrick county, give us a call, we can help.  Also, if you are a first time homebuyer don't forget about the 10% credit of up to $8000.00.  (FREE MONEY)  To see all homes for sale in newburgh indiana click here.