Blog Archives

USDA-RD Single Family Housing Guarantee Loan Program (SFHGLP)

FAST FACTS for the
USDA-RD Single Family Housing Guarantee Loan Program (SFHGLP)

 
ü  102% FINANCING is still available
ü  NO DOWN PAYMENT required from buyer*
ü  CPR PROPERTIES are acceptable
ü  CONDOS are ok so long as they are approved by either the VA, Fanni Mae, Freddie Mac or FHA
ü  DHHL properties are acceptable
ü  FUNDING, program well funded for FY 2012
ü  DEBT TO INCOME (DTI) RATIO waivers permitted with compensating factors
ü  RURAL PROPERTIES ONLY, all of Kauai is considered rural
ü  CLOSING COSTS may financed into the loan*
ü  ZERO FICO SCORES permitted with acceptable alternative trade lines
ü  LEASEHOLD PROPERTIES are permitted, must have at least 40 years term by close of escrow
ü  QUICK CLOSING; average turn time once file received at USDA is 48 hours, lender processing times apply
ü  THE “MAXIMUM RATE” lenders may charge as of 5/18/2012 is 4.0%, rates subject to change daily
ü  REDUCED RATES, low income applicants may finance additional points to buy down rate
ü  REFINANCE a construction loan or existing USDA loan
 
*Discuss with your lender how to finance closing costs prior to writing an offer to purchase
 

                                                                                                         
Contact a USDA approved lender or myself for additional guidelines.  Contact a USDA approved lender to apply.

Approved lender list

See the USDA Rural Development Website for more information.
 
 

Hawaii Food Manufacturer Association Seminar on March 20

Hawaii Food Manufacturer Association

Education Series – “Good Financials, Good Business”

Date: Tuesday, March 20, 2012
Time: 11 a.m. registration, seminar 11:30am to 12:45pm
Location: Manoa Innovation Center, Conference Room 173
2800 Woodlawn Drive, Honolulu, HI 96822

Reservations: Must be made in advance by
email hfma@foodsofhawaii.com or
phone (808) 422-HFMA

Cost: HFMA Members first company representative is free
Additional company attendee $15
Non-members $25
Lunch is provided

HFMA March Seminar Flyer 
Are your financials set-up to enlighten you and help you make good business decisions?


Joseph Burns from the Small Business Development Center (SBDC) who will talk about setting-up your financials so you can:

–          Price your products correctly

–          Evaluate adding labor

–          Decide whether to purchase equipment

–          and more

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