At Summit Funding, we're passionate about making rural homeownership dreams a reality. If you've been yearning for the peaceful lifestyle of a rural community but feeling held back by upfront costs, we have an incredible solution: the CalHFA USDA Loan combined with MyHome assistance. This powerful financing duo eliminates the need for a down payment while providing funds to cover your closing costs. Let's explore how Summit Funding can help you unlock the door to your dream rural home!
The Unbeatable Advantage of CalHFA USDA Loan with MyHome
Picture yourself settling into your dream home without the burden of a down payment. That's the remarkable benefit of the CalHFA USDA Loan - a 30-year fixed-rate mortgage offering 100% financing for eligible rural properties. But the advantages don't stop there! When you pair this with the MyHome Assistance Program, you'll gain access to additional funds to cover your closing costs, paving a smoother path to homeownership.
Empowering Rural Homebuyers with Unmatched Benefits:
- Zero Down Payment: Keep your hard-earned savings in your pocket while still achieving your homeownership dreams.
- Closing Cost Assistance: Receive assistance up to 3% of the purchase price to conquer closing costs with confidence.
- Lower Mortgage Insurance: Benefit from reduced monthly mortgage insurance premiums compared to FHA loans.
- Flexible Credit Requirements: With a minimum credit score of 640, this program accommodates a range of financial backgrounds.
- Competitive Fixed Rates: Lock in a competitive fixed interest rate to ensure affordable monthly payments for years to come. Look up CalHFA rates here
Is the CalHFA USDA Loan with MyHome Right for You?
Qualifying for this transformative program may be easier than you think. Here are the key eligibility factors:
- Rural Location: Your dream home must be located in a USDA-designated rural area. Check eligibility here
- First-Time Buyer Status: You must not have owned a primary residence in the past three years, or lived in a home owned by your spouse.
- Income Limits: Your household income should fall within the USDA and CalHFA county-specific limits.
- Primary Residence: The home you purchase must serve as your primary residence.
- Credit Score: Aim for a credit score of at least 640 to meet the CalHFA USDA loan requirement.
Let Summit Funding Guide You Home
At Summit Funding, we're committed to being your trusted partner on the journey to rural homeownership. Our experienced team will work closely with you to determine if the CalHFA USDA Loan with MyHome is your ideal financing solution. We'll guide you through the prequalification process, help you understand the assistance you qualify for, and connect you with areal estate agent to kickstart your home search.
Ready to Get Started?
Schedule a FREE one-on-one call with me or get started now by applying with our FREE online mobile app.
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John King
I'm John King, and I've dedicated over 20 years to the mortgage industry. Proudly ranking in the top 1% of mortgage originators since 2015, my passion lies in guiding homebuyers and homeowners achieve their homeownership goals.
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John King – Loan Consultant / Branch Manager, NMLS ID# 453426
Roseville Branch NMLS ID# 1008243
Lodi Branch NMLS ID# 284835
Summit Funding, Inc. NMLS ID# 3199 | www.nmlsconsumeraccess.org
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All information is for educational purposes only and is not a commitment to lend. Program guidelines, eligibility requirements, and availability—including down-payment assistance and CalHFA programs—can change at any time. Not all applicants will qualify. Please speak with me for personalized guidance.
