100% Financing Homes
Handler Homes is proud to announce that many of our communities are eligible for the Single Family Home Loan Guarantees provided by the USDA Rural Development. This means that the homes we build qualify for the program that assists those who are in need of help to own their own modest, adequate, and safe home. How does the program work? Do you qualify for this program? What all is involved? These are important questions that we are going to help answer so that you can move forward with owning your own home!
Who is eligible for the program?
There are several qualifications that have to be met in order to apply for this program. The biggest requirement that must be met is the income limits based on the number of people that work in your home. This income limit is based on the county of that particular state. Here is a further comprehensive list of qualifications and income limits:
How does the program work?
This program works through an approved third-party lender by the government. This is the primary difference between a direct loan issued by the USDA and a guaranteed loan. With a guaranteed loan the approved third-party lenders are able to authorize loans to low-income families, the difference is that with each loan that is approved the USDA backs up every one of them. Why? This is in case there is a failure on the part of the borrower to fulfill their obligation to the lender. This allows for the lender to be able to set fewer conditions and standards on the borrower making it easier on everyone.
What type of housing can you get?
This program is for families with low income to find a suitable home they can own in a rural area. The part about a rural area might be a turn-off for some but really it is a sweet spot for home builders. Handler Homes has built their homes in an area that is not too far out of town and yet far enough to not be bombarded with people everywhere. Our homes are generally built just 20 minutes outside of town to be able to have easy access for when you need to go get some groceries or just want to have a good time with friends. Our communities that qualify have beautiful homes built for large families to occupy.
How do you get started?
The first step is to see if you qualify for the program by taking a look at the links above. After doing so, if you determine that you do qualify then the next step is to meet with an approved third-party lender by the government and submit an application. Then wait to see if you’re approved. Depending on the response will then decide what your next step will be. If you’re having trouble finding an approved lender, contact the Guaranteed Loan Specialist in your state.