News You Can Use

With new home construction on an upswing, buyers are still out in full force.   One loan that’s certainly grabbed buyers’ attention this year is USDA.   These loans are attractive because similar to VA loans, they provide 100% financing.     Also like VA loans, there are specific guidelines germane to USDA loans.

USDA borrowers cannot own any other properties, their income must be within guideline limits and the property must be located in an eligible area.  Another positive feature of USDA loans is no monthly mortgage insurance which results in a lower monthly payment.  USDA covers their mortgage insurance needs with a 2% guarantee fee that is rolled into the total loan amount.

An exciting development for Cunningham & Company is we now allow home repairs and closing costs to be included in the loan amount up to the property’s appraised value.  What a great option for a buyer purchasing a short sale or a foreclosure.  So check out the eligibility map – you may be surprised on what areas qualify – and if you have questions, ask me!

Featured Loan Program

USDA 

Cunningham & Company offers USDA loans to help individuals or households purchase homes in rural areas.

• 100% Financing with no Mortgage Insurance
• No Loan Limit
• Property and borrower’s income must meet program guidelines
• May be used for new or existing properties
• Areas in and around the Charlotte MSA are eligible

Have you heard?

Have you heard about Charlotte Trolley’s ‘History on Call’?   If you’ve ever wanted to know more about Charlotte, you can learn about the city with a simple phone call or click on the computer.  This free service provides audio dramas that will teach you some interesting facts and even allows you to call in with your own personal stories that may one day be shared with others.  Check it out!  

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