Serving the Greater Sandpoint and Coeur d'Alene Areas of North Idaho
Financing Sandpoint Real Estate for lower incomes
Lower Income Financing is available for purchasing Sandpoint Real Estate through USDA.
It’s amazing how few people have heard uf USDA loans. These loans are for people who have a steady income and pay their bills on time, but don’t generally make enough to afford buying a home with conventional loans. They even have an online worksheet that will give you an idea if you might be eligible. The more dependants you have the more you can make, so it is surprising who can qualify. You can go to http://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do to find if you may be eligible or check with your lender. If you can qualify for a Direct USDA loan that allows you to bypass working through a lender and you can save quite a bit of money on closing costs. If you qualify for Guaranteed USDA loan you must go through a lender. But either way, these loans are 100%, no down required, and you can roll your closing costs into the loan if the house appraises high enough to cover it. I have closed several home sales with these loans in the Sandpoint & Bonner County Idaho area. In fact my son was just qualified by his lender to go Guaranteed and is now in the process of searching for the perfect home.This is great for Retirees and First Time home-buyers alike!
Bonnie Chambers, Tomlinson Sandpoint Sothebys International Real Estate in Sandpoint Idaho