“You Don’t Need a Down Payment”

“You Don’t Need a Down Payment”

 

 

After I spoke to the client and explained that a down payment was not needed if a home was purchased in the rural area she wanted to own. She qualified easily for a USDA loan.

 

She asked me why no one else had mentioned this loan to her as she had spoken to a number of real estate agents over the last couple of years.

 

I wish I knew the answer to the question, but we do this loan whenever possible as there is no down payment required and rates are great.

 

I don't really have any money to put down. I will have 10K after my income tax comes in, but that's about it. Thanks for always letting me pick your brain!

 

 

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Joe Petrowsky, NMLS #6869

Right Trac Financial Group, Inc. NMLS #2709

110 Main St.

Manchester, Ct. 06042

Office: 860 647-7701 x116

Fax: 860 647-8940

Cell: 860 836-9294

Email: joe@righttracfg.com

www.righttracfg.com

www.joepetrowsky.com

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Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.

Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.

Comment balloon 19 commentsJoe Petrowsky • March 21 2016 03:00AM
“You Don’t Need a Down Payment”
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“You Don’t Need a Down Payment” After I spoke to the client and explained that a down payment was not needed if a home was purchased in the rural area she wanted to own. She qualified easily for a USDA loan. She asked me why no one else had… more
“Get me More Business Cards”
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“Get me More Business Cards” What a problem! I’m just going to send a box of cards. I love sending referrals to my partners and when they are asking for more business cards I know I’m doing a good job. This construction company has been a… more
“The Fear of Being Denied Again”
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“The Fear of Being Denied Again” It is devastating to be denied for a mortgage especially when all of the embarrassment could have been handled at the time of the initial application. The math just didn’t work for this couple buying their… more
“After Coaching This Self-Employed Client”
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“Become the Resource for Your Clients, it Goes a long Way”
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“Become the Resource for Your Clients, it Goes a long Way” These clients were extremely skeptical when we first met. They had done a loan previously with a big box bank and they said it was worse than childbirth. Wow, that is pretty serious… more
“No Money down Mortgages, Alive and Well”
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“Home Inspections are a Home Buyer’s Best Friend”
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“Home Inspections are a Home Buyer’s Best Friend” I always recommend a home inspection be done as soon as a purchase agreement is entered into. I also recommend the buyer or their Realtor check the status of any past, present and pending… more
“Unless You Explain Your Referral Expectations
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“Unless You Explain Your Referral Expectation s” From my first interaction to the completion of a transaction, I am constantly asking for referrals and the best way to make the referral. Based on the comment below, they may still not get it… more
“When You Keep Giving out Referrals you will Get Your Fair Share in…
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“When You Keep Giving out Referrals you will Get Your Fair Share in Return” Thank you for the referral you sent, will communicate with them later today. We could use some help from you. My girlfriend has less than stellar credit and wants… more
“Interest Rate of 13. 24% since 2001”
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“Interest Rate of 13. 24% since 2001” I wish I was making this up, but sadly I am not. This mortgage started at $119, 000 and the payoff is now $142, 000. These numbers are not misprints. Yes, that means that she has been making a mortgage… more