Rural Housing Lexington KY Homes Loan Makes Dreams Come True!

While the buzz of the hour is that we’re in the midst of a somewhat bleak economic picture, there are ways to make your dreams come true! The days of the $8000 First Time Home Buyer’s Tax Credit may be gone, but there are other creative solutions. For example, this young couple, whose first home we just closed on last week, literally got into their new Lexington KY area home with NO MONEY DOWN (they even got their $100 Earnest Money returned to them at closing!):

Their loan was a USDA Loan,  (also called a Rural Development Loan) , which is a government insured home loan that allows you to purchase a home with NO Money Down. USDA Loans offer 100% financing to qualified buyers, and allow for all closing costs to be either paid for by the seller or financed into the loan.In addition to 100% financing, USDA Loans require NO monthly Mortgage Insurance, or “PMI”. USDA offers some the lowest rates of any loan, and you will always have a fixed interest rate.

These loans do not include Fayette County proper in the Lexington KY Real Estate market. However, they do cover a wide area immediately outside of Lexington KY. Here’s a map, with the shaded areas indicating the excluded areas:

Map of Rural Housing Eligibility Areas in the Lexington KY Real Estate area

These loans are not limited to first time home buyers. To find out if you are eligible, you can contact your own local loan officer, or feel free to get the same excellent service that this couple did by contacting Jesse Hardin at Flagstar Bank. He will be happy to help you!

Want to set up a custom ‘shopping cart’ of homes that fit your needs? This custom ‘portal’ will stream Lexington KY Homes for Sale customized to your needs directly to you! Just send us a description of what you are looking for in your new Lexington KY Home, or visit our “do it yourself” custom mapping system to set up your own custom search. At eXp Realty’s LexHome Group, we’re ready when you are!