I’ve been working along with Gettysburg mortgage lender Corey Kimple to help a young married couple with two kids to find their first home.  Almost all homes in Adams County qualify for 100% USDA financing which is a fantastic loan product if you’re not familiar with it visit this link —>> USDA Financing

We were trying to capitalize on a few things.  First take advantage of the 100% financing which meant we had to find a home that was in good condition.  However, we also wanted to take advantage of discounted properties like foreclosures and short sales.  We found a foreclosed property and were able to get 3% closing cost assistance.  This paid for about 50% of the closing fees.  With a tiny bit of elbow grease we passed the appraisal.

We had a purchase price of 110,000 and a house that appraised for 115,000.  Since the home appraised for more than purchase price the USDA lets us use the 5,000 toward closing fees.  With this little extra the buyers will be settling today with $0 out of pocket.

Not only is this an amazing deal for this buyer it’s possible for almost all buyers in the Gettysburg, Biglerville, Fairfield Areas.

 

 

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