NO Down Payment . . NO Mortgage Insurance . . NO Cash Reserves . . . You CAN still get a loan for the home of your dreams!

The New Jersey USDA Rural Development 502 Guaranteed Housing Loan Program offers special advantages and can make owning the home of your dreams a reality.  This program has strict parameters and is eligible only in certain counties within the state, so please feel free to give us a call if you'd like to discuss what your options are in regards to the 502 Guaranteed Housing Loan Program.

A Brief Overview of the Programs Offerings:

- No Down Payment

- No Mortgage Insurance

- No Cash Reserves Required

- No Prepayment Penalty

- No First Time Home Buyer Requirement

- No Limitation on source of funds for closing costs

- No stated maximum loan amount; maximum loan based on repayment ability

- Seller Contribution Limited 6%

- Loan up to 102%* of appraised value. . Not the lesser of Sale Price or Appraisal

- New & Existing Homes OK.

- Fully Amortized 30 - year fixed rate loan

- 100% gifted closing costs or down payment assistance is permitted

- Loan amount can include closing costs and repairs up to appraised value

To inquire about your options, call either . . .

Smitha Ramchandani - (973) - 953 - 7777 (mobile)   Rahul Ramchandani - (973) - 615 - 6504

smitha@morris - homes.com                           RahulR@morris - homes.com

National award-winners and seasoned Realtors with over many years of experience in Northern & Central New Jersey, Rahul & Smitha and their team have become New Jersey’s “Go To” agents and consistent leaders with a reputation for tenaciously protecting their clients’ interests. They specialize in Morris, Somerset, Essex, Union and Passaic Counties.

www.SRRealEstateGroup.com | www.Morris-Homes.com |TownhouseExpert.com