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Thinking homeownership is out of reach? Think again.

By Ryan Tufts on February 28, 2017 in General Information, Mortgage Tips, Ryan Tufts

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Saving for a down payment and escalating home prices are two reasons that make it difficult for low income homebuyers to purchase a home.  Did you know that the USDA 502-Direct loan program solves these issues and more for homebuyers?  Designed for low income families purchasing homes in rural areas, this loan offers a 0% down payment, 33 or 38 year terms, and a possible subsidy reducing the interest.   In addition, USDA 502 Direct does not charge for mortgage insurance further increasing the monthly savings! This allows buyers to borrow considerably more than with other loan programs, so they can purchase a safe and quality home.  These amazing terms result in successful homeownership.

In 2016 NeighborWorks Southern New Hampshire began accepting applications for this loan as a USDA Loan Packager.  Interested buyers are required to complete Home Buyer Education and Counseling through HOMEteam or a comparable entity. If you or someone you know could benefit from this program please contact Debbie Wheeler or Ryan Tufts at NeighborWorks Southern New Hampshire at (603) 626-4663.

Ryan Tufts is a HomeOwnership Counselor at HOMEteam. Whether his clients are three months or three years from purchasing their home, Ryan assists clients in developing customized plans leading to home ownership. Ryan also conducts HOMEteam’s Home Buyer Seminars and Financial Capabilities Workshops, guiding clients towards mortgage affordability. He also conducts the Financial Capabilities Seminars and consults Individual Development Account (IDA) clients.

2 thoughts on “Thinking homeownership is out of reach? Think again.

  1. Ursula Santiago

    thank you so much for sending this email, I actually had given up hope to own my own home. Have been helping family to keep their home, so I had to take a back seat. Thank you,I had been thinking about getting in touch with you to see if the program also helps with rentals.

    I will keep going, and some day……
    Best regards
    Ursula Santiago

    1. HOMEteam

      Ursula, thank you for your comment. Please reach out to us when you are ready to start the process. You’re welcome to sign up for a class online or call us at 866-701-9097. Looking forward to working with you!

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