Serving All California Counties - USDA Guaranteed Loan Specialist
Hello, I am an independent, full service mortgage broker specializing in USDA purchase loans, hard / private money, refinancing, and creative lending solutions. I have a reputation for integrity, honesty, and consistency.
UPDATE STILL FUNDING USDA LOANS!
While I offer a variety of loan programs, from VA to Conforming loans, I specialize in 102% USDA Guaranteed Financing and private / hard money financing. For those who qualify (and many, many people do) USDA Guaranteed Financing offers those borrowers/buyers an excellent loan product with fantastic terms and interest rates. If you are unfamiliar with USDA Guaranteed financing, it is a Guaranteed loan, which means it is not a direct loan from the USDA, but Guaranteed by the USDA. Big difference in the two. Here are some of the advantages: As I mentioned, I specialize in this program, so I can determine within a matter of minutes if a borrower/buyer can qualify for the program, or if the property being purchased is eligible. USDA Guaranteed does have some restrictions, but for those that qualify, it is the best loan in the nation. Many of my clients that have financed their home purchase with a USDA Guaranteed loan have purchased with no money down, and have just needed to pay for the cost of the appraisal. It is an amazing program, and best of all...no loan limits!
Many of you have heard about USDA Rural Development Guaranteed Home Loans, and how borrowers are able to qualify for 102% financing without putting any money down. What many borrowers, mortgage and real estate agent may not know, or fully understand is how easy it is to qualify and fund a USDA guaranteed loan. In some instances USDA guaranteed loan can be qualified and closed in as little as two and a half weeks!
Unfortunately, the word “Rural” usually brings to mind a farm or barn, or some out-of-the-way backwoods place. This is not at all the case with USDA Guaranteed Rural Development Home Loans. While properties that are in the countryside may qualify for USDA financing, the real advantage of this loan program is that it can be used to finance virtually any single family residence in a qualifying area…and just about every county in
Here are some highlights of the program
- 102% LTV - 100% Financing
- No Mortgage Insurance
- 30 Year Fixed Rate
- No Loan Limit
- Fees & Repairs may be Financed
- Unlimited Gifts or Seller Contributions
- No Reserves Required
- Great financing option for those of you purchasing, fixing, and reselling within a short time frame
Below are some answers to frequently asked questions that I receive. While I focus my lending to
What is a USDA Guaranteed Home Loan?
- A USDA Guarantee Home Loan is a government insured loan, which is issued and serviced by a lender. The loan is for rural areas, which is typically communities where the population is 25,000 people or less. You would be surprised at how many communities qualify. Rural does not mean out in the middle of nowhere. To see if a property you are interested in or listing qualifies, click here.
Are USDA Guaranteed loans only for low-income borrowers?
- No, USDA Guaranteed loans are for Moderate Income borrowers. In most counties in California, as an example, a 1-4 person family can earn up to $70,750.00 per year, in some counties it is even higher, so the answer is that USDA Guaranteed loans are not only for those with lower incomes, but it is intended to be used by moderate income borrowers. For the exact income limit in your area, click here or email me, and I will let you know what that limit is.
Are there restrictions as to where I can purchase a home using a USDA Guaranteed loan?
- Yes, but there are a ton of available cities and communities that qualify for USDA Guaranteed financing. Typically the population needs to be 25,000 people or fewer to qualify, but that is not always the case. Cities such as
Do I have to be a first time homebuyer to qualify for a USDA Guaranteed loan?
- No, you do not have to be a first time homebuyer to qualify for a USDA Guaranteed loan.
What is the down payment for with a USDA Guaranteed loan?
- There is no down payment. USDA Guaranteed loans offer 102% financing. 100% of the purchase price can be financed, as well as, the 2% Guarantee Fee (Mortgage Insurance) that USDA charges all borrowers. I should mention that USDA allows for 102% financing of the appraised value…which is a great tool when trying to finance closing costs. Ask me how!
Can the property have an in-ground pool?
- Yes, but the value of the pool cannot be financed. To make things simple, let’s say that the purchase contract for the home is $100K, the appraisal comes in at $105K and the pool is valued at $5K. In this example, you can still finance 100% of the purchase price without the pool becoming a factor in financing. Or, sometimes, particularly with bank owned properties, the pool is given no value, so it does not factor into the equation.
I have heard that USDA Guaranteed loans are difficult to qualify for and close, is this true?
- Not in the least. USDA Guaranteed loans are one of the easiest loans to qualify for and they are relatively easy to close. A majority of my business focuses on USDA Guaranteed financing, and I have become an expert at qualifying and closing these loans. It is a great loan, and is a lot less cumbersome than VA or FHA loans. If someone has the option to qualify for USDA Guaranteed financing, they should definitely look at that option first.
Proudly serving the entire State of California!
Alameda, Alpine, Amador Butte Calaveras Colusa Contra Costa Del Norte El Dorado Fresno Glenn Humboldt Imperial Inyo Kern
Kings Lake Lassen Los Angeles Madera Marin Mariposa Mendocino Merced Modoc Mono Monterey Napa Nevada Orange Placer
Plumas Riverside Sacramento San Benito San Bernardino San Diego San Joaquin San Luis Obispo San Mateo Santa Barbara
Santa Clara Santa Cruz Shasta Sierra Siskiyou Solano Sonoma Stanislaus Sutter Tehama Trinity Tulare Tuolumne Ventura Yolo Yuba
George A. Nava Real Estate Loans
P.O. Box 1742
Brawley, CA 92227
Direct (760) 455-6373
Fax (877) 891-6251
george@ivhomeloans.com