USDA Mortgage Loans: A Guide for First Time Home Buyers

Jan 24 2024 Published by admin under Uncategorized

The USDA rural housing loan is a 100% financing loan which means that you can finance the full amount of the property value. It requires no down payment either. This makes it perfect for first-time home buyers who don’t have a lot of money saved up.

How to Apply for USDA Mortgage Loans

If you’re planning to apply for this guaranteed housing loan program, you must contact a local mortgage lender. An USDA sponsored program might seem like something targeted to ranchers and farmers. But in reality, your occupation has nothing to do with the matter. Eligibility for the loan is based solely on income and location of the property.

What Makes You Eligible for USDA Rural Housing Loan

Geographic Location

Property location is the most important factor for qualifying for USDA mortgage loans. It has to be located within a USDA eligible area. While the idea of a rural area brings a specific image to mind, 97% of USA is actually eligible. So, there is a high chance that the property you want might be eligible for financing. Go through USDA maps to browse locations or pinpoint a specific address. You can also ask an USDA loan officer whether your property is located within an eligible area.

Income Limit

The total income of your family needs to be 115% of your region’s median income or less. As of 2018, the income limit for 1-4-member families is $82,700 and the income limit for 5+ member families is $109,150. Keep in mind that your entire household income will be counted by the loan lender. This would include for example, a working teenager who is not on the loan.

Credit Standard

To qualify for USDA rural housing loan, your credit score has to be 640 or above. You could also qualify by proving that your credit score was affected by things outside your control. It could be a temporary situation or due to medical emergencies.

Other Requirements
The borrower needs to be an US citizen, an US non-citizen national or a qualified alien.
You would have to submit a 24-month history of dependable employment and show adequate income.
Being a first-time home buyer is not compulsory. But you cannot own any adequate, livable housing close to the property you’re planning to buy.
You must occupy this property as your primary residence.
Why Should You Opt for USDA Rural Housing Loan?

USDA mortgage loans have numerous advantages for first time home owners in rural or suburban areas.

It is a zero-down loan, so you need to make absolutely no down payment.
You can get financing for 100% of the property value.
Mortgage rates are extremely low because of the government backing on the loans. This makes it safer and cheaper for mortgage companies and private banks to lend. The mortgage insurance premium is as low as 0.30%
USDA offers 15 years and 30 years fixed rate loans. Adjustable rate loans are not available
Affordable homeownership promotes settlement in less densely populated parts of the USA. This in turn, promotes better quality of life in rural areas and creates prosperous communities. We hope this serves as a comprehensive guide for first time home buyers looking for a primary residence.

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Types of rural housing loans guaranteed by USDA

Jan 24 2024 Published by admin under Uncategorized

. It has not only helped to bring up hospitals, schools, community centres for people but has also given financial help through rural home loans to families who would wish to settle in the rural houses by making new homes or upgrading old ones. Rural housing loan from USDA has helped to give flight to the dreams of a lot of people who always wished to have a beautiful family life in rural America that has visually and aesthetically pleasing stretches of pastures.

USDA offers three types of loan programs for willing candidates. They are: -

Direct loans-

The direct loans issued by USDA are meant for the low and very low-income families and to help them obtain safe and decent housing in rural areas. Section 502 has this direct rural housing loan program where low-income families can apply for direct loans and payment assistance to get access to decent housing. Payment assistance is a subsidy that lowers the mortgage payment for a short period in an attempt to provide financial help to the family.

The applicant for this direct loan must have an income which is equal to or below the low-income limit for the area he or she is applying for.
The applicant must also be without safe and sanitary housing at the present.
The applicant must show previous records of not getting loan from other traditional sources and have the willingness to repay this debt.
He or she must be a citizen of America and have the property being applied for as the primary residence.
The property being financed under the direct loan must also be less than 2,000 square feet and its market value should be less than the applicable loan limit for the area.
Single Family Housing Guaranteed Loan Program
This single-family housing guaranteed loan program is meant for approved lenders who are given the assistance to provide low income families with loans to own or repair safe, decent, modest and sanitary housings. These rural home loans give loan guarantee to the lenders to make them help eligible rural borrowers in building new homes or relocating to a home by repairing it.

Single Family Housing Repair Loans and Grants

These home loans are particularly given to homeowners to renovate or repair their existing homes. The Section 504 has this home repair program that provides monetary assistance to low income families or to elderly and disabled homeowners to help them repair or renovate their homes to maintain health and safety standards because they do not have the capability to provide for it themselves.

The applicant for the loan must be the owner of the house and presently living in it.
He or she must be unable to obtain home repair loan elsewhere from other sources.
The income of the family must be 50% below the median income of the area.
Grants shall be given only to elderly applicants above the age of 62.
Grants will have to be repaid if the repaired property is sold off within a span of 3 years.
The amount of loans and grants can be combined together to get assistance up to $ 27,500 in total. Otherwise, the maximum loan amount is $20,000 and the maximum grant amount is fixed at $7,500.
The primary objective of USDA is to improve the quality of life in rural America by providing financial assistance as much as possible through these rural home loans and home repair loan programs.

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Rural Home Loans: Knowhow

Jan 24 2024 Published by admin under Uncategorized

We have all the information you need to know about rural home loans like the rural development loan.

What is a USDA Rural Development Loan?

The United States Department of Agriculture is offering a 100% financing rural home loan called Rural Development (RD) loan. It reduces the costs for people planning to settle down in rural and suburban areas. This promotes home ownership in the less densely populated areas of USA. Don’t let the name fool you. The word ‘rural’ brings to mind agricultural lands with farmers and cows. But actually 97% of the country representing 109 million people, falls within the eligible area. So, it is highly probable that the house you’re looking for might be eligible for USDA financing.

Advantages of Rural Home Loans

You must be wondering why you should go for a rural development loan.
The biggest advantage is it’s a 100% financing program and you will need to make zero down payment. This means that this rural home loan is perfect for first-time home buyers.
The loan doesn’t require a high credit score so qualifying for this loan is easier than most other loan types. The required credit score for being eligible for the RD loan is as low as 640.
USDA mortgages also have an extremely low mortgage insurance premium of 0.30%. This is the lowest annual MIP of any home loan program except for the VA.
The USDA rural home loan offers two mortgage options- the 15-year and 30-year fixed rate loans. No adjustable rate loans are available. These are extremely safe programs.
This program enables people belonging to low and moderate-income households to afford simple, decent and safe houses.
Eligibility for USDA Rural Home Loans

As we have already mentioned qualifying for the rural development loan is easier than other loan types. This is because it does not require a high credit score or a down payment. Let us look at the exact eligibility criteria for this loan.

The property that you’re looking to buy must be located in a USDA eligible area. You can take a look at USDA maps to pinpoint an address or browse certain areas. If you’re not sure whether the property of your preference is eligible for the loan, you can also ask an USDA loan officer.
Your income needs to be 115% or less than your region’s median income. The income limit as of 2018 is $82,700 for 1-4-member families and $109,150 for families with 5+ members.
You have to be a citizen of the United States, an US non-citizen national or a qualified alien.
You must have an acceptable credit history. You should have no accounts that were converted to collections within the last year. Borrowers who have a credit score of 640 or above get streamlined processing. You may still qualify otherwise by proving that your credit score was affected by temporary circumstances or those outside of your control. A medical emergency would also count.
In order to be eligible, you would typically need a 2-year history of dependable employment.
You need to occupy the property as your primary residence.
The USDA program is getting more and more popular every year and thousands of home buyers are opting for it.

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Business Consulting Firms – 4 Intermediate Ways to Grow Your Business Consulting Firm

Jul 07 2023 Published by admin under Uncategorized

Gone are the days when you can count the number of business consulting firms using your ten fingers. Today, as more and more people are building their own businesses, consulting firms become very in-demand.

If you are one of those people who have built a business consulting firm to meet the current demands, this article is for you. In here, I will share some tips on how you can easily grow your firm so you can position yourself as industry leader while you maximize your revenue in the process. Here’s what you need to do:

1. Hire the best people. What they say is true; the success of your business will largely depend on your people. So, make it a point that you only hire those who are competent, highly skilled, and motivated. During the hiring process, look for people who have relevant experiences, trainings, and educational background on running or managing a business. Also, make sure that these people are easy to work with, result-driven, and reliable to make sure that they’ll be able to offer your clients with great experience.

2. Make your marketing campaign more aggressive and more targeted. As I have mentioned before, the field of consulting business is very stiff at the moment. Thus, it is very crucial that you invest time, effort, and even money to make your marketing campaign more effective, more compelling, and more targeted. Do a thorough research about your prospects and know what can push their buttons. You will need to target their emotions and convince them that you are the best firm for the job to get them to sign up in no time. Make your marketing messages more powerful and benefit-driven.

3. Impress your clients. If you want to easily create a good reputation in this industry and if you want your customers to keep on coming back, you’ve got to do all you can to make these people happy in doing business with you. You must assign to them competitive and very knowledgeable consultants who can meet their needs and demands. You need to make sure that your firm will be able to give these people everything they need to reach their goals or to grow their business exponentially in as little time as possible.

4. Develop an effective consulting team. Invest on giving your consultants relevant trainings and seminars that can help in improving their skills and their knowledge in this field. Take this as a wise investment as this can help you promote 100% customer satisfaction.

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Marketing Consultants – 5 Things to Look Out

Jul 07 2023 Published by admin under Uncategorized

What if you discovered the exact qualities that a marketing consultant should have that will have a positive impact on your Internet business? Do you want to know what it takes to make a huge income online hiring help from a marketing coach? The purpose of this article is to get you started making easy money online setting up a highly profitable Internet business.

Here are 5 simple steps to get you started.

Step 1 – Should have a high powered personality.

Step 2 – Must have very powerful communication skills.

Step 3 – Should be motivated and energetic.

Step 4 – Should be available when the clients are in need to solve specific problems.

Step 5 – It is important that your marketing consultant is approachable through teleseminars, webinars, chat, etc on monthly basis.

The purpose of this article is to show you exactly what it takes to make huge income step by step starting today. Here are step by step details that you can apply quickly and easily.

Step 1 – Should have a high powered personality.

Personality of marketing coach shines in the success of his clients. The expertise and credibility that a marketing coach has helps him to achieve massive success in his coaching niche. Your marketing consultant should have very good communication skills because he will be communicating with his clients on a regular basis.

Step 2 – Must have very powerful communication skills.

It is extremely important that a marketing coach has very powerful communication skills. This is because the coach will communicate with his clients on regular basis through telephone, webinars as well as other mediums. Your consultant should be highly motivated and energetic because this will have positive impact on his clients.

Step 3 – Should be motivated and energetic.

He should be extremely motivated and energetic because this will have a positive impact on his clients. The client will see his energy and they will get inspired and motivated to achieve the same results the coach has achieved. Marketing consultant should be easily available whenever the clients are in need.

Step 4 – Should be available when the clients are in need to solve specific problems.

The clients are purchasing consultation is because they want one-on-one support from an expert in their niche. Therefore it is highly important that the coach is available whenever the client is in need to help them solve their problems. Here are some coaching sessions that you have to take advantage of if you’re planning to hire a marketing consultant.

Step 5 – It is important that your marketing consultant is approachable through teleseminars, webinars, chat, etc on monthly basis.

There are many coaching modules that consultants can provide to boost the ultimate coaching experience. Some of them includes setting up highly targeted coaching sessions through teleseminars, webinars, chat session, etc. With such kind of coaching sessions it becomes easy for the coach to provide training and content on regular basis to the members and provide them solutions to their problems. Make sure you get started today with a coach who can help you out in your niche.

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Consulting Companies – Revealed – 4 Effective Methods to Build a Profitable Consulting Company

Jul 07 2023 Published by admin under Uncategorized

Are you trying to build your very own consulting company to get closer to your financial freedom? Then, these effective methods are for you!

1. Do your research. I am pretty sure that you would want to make a lot of revenue in this field. So, don’t just jump into this endeavor without doing your assignment. After identifying the niche to target, determine how many people are offering the same consulting services. You may want to stay away from stiff competition by avoiding niches that are targeted by the big dogs. By doing this, you’ll increase your chances of attracting more customers which will obviously mean more revenue for you.

2. Learn from the experts. I highly recommend that you work together with people who own successful consulting companies. Although most of them will surely not be willing to share all their secrets and techniques, I am pretty sure that they’ll be able to give you some amazing pointers as to how you can get started on the right foot. If you are willing to spend at least $12,000, you can learn the ropes of building a profitable consulting company by simply signing up to coaching programs or advanced online classes that are being offered by some of the experts in this field.

3. Hire competent consultants. Before you advertise your company, I recommend that you hire at least 3 consultants to work for you. You can start by visiting freelancing sites where you can find the best freelancer workers from all points of the globe. You can also visit blogs and forums that are frequented by these people. Lastly, you can post an ad on your website that contains all your requirements.

4. Plan an effective advertising campaign. Learn the basic of internet marketing in order to easily promote your consulting company. If you are trying to save on your advertising cost, you may consider writing and distributing articles online, building and maintaining a blog, or promoting your business and your site’s URL on blogs or social networking sites that are frequented by your potential clients. However, if you have the money to spare, I recommend that you use banner ads on relevant sites. You may also use search engine marketing, paid links, and PPC advertising. In addition to these marketing tools, you may also think about launching marketing gimmicks like giving out discounts or freebies that can surely capture the attention of your target market.

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Debt Consultants of America – Should You Become a Client of Debt Consultants of America?

Jul 07 2023 Published by admin under Uncategorized

Debt Consultants of America (DCOA) seemed to just pop on the scene and become somewhat of a major player in the debt settlement industry. They have a professional looking website and regularly run advertisements in the Texas region where their offices are located. But irate clients are starting to post complaints about this company on various consumer advocate websites. We decided to look at why. This will help you answer the question, “Should I Become a Client of Debt Consultants of America?”

DO NOT skip over this step or take this warning lightly; read over the Debt Consultants of America’s contract from top to bottom, line upon line. DO NOT lightly glance over one single solitary line or paragraph. After you read the entire contract, get two other people to read it; if at all possible, one of those persons should be an attorney.

Why do we strongly suggest this step? People who signed that contract and later cancelled essentially stated in their opinion that it contained a full page of client obligations and rights that serve only to benefit DCOA. Here are some basic components of that contract…

#1) Apparently No Creditor Gets Paid Until Debt Consultants of America Gets all their money – People who sign up for debt settlement programs administered by third party companies don’t realize that this is a standard policy. Once you sign up for most of these programs and start making payments, the assumption is – the debt settlement company starts paying your creditors. NOT SO! They don’t start paying your creditors until you have paid their administrative processing fee in full. That’s why you hear of horror stories of people getting sued by creditors while they are signed up with certain debt settlement companies.

Be advised, VERY FEW if any of these companies will make any payment to creditors until their initial administrative start up fees are paid in full. That means, although you are making payments to the debt settlement company, NONE of those payments are going to ANY of your creditors. It also means you are getting further behind and additional penalties and fees are being tacked on.

#2) Debt Consultants of America Charges a $299.00 Cancellation Fee – BE ADVISED: after you sign up as a client and later decide this was a bad mistake, you MUST pay them $299.00 to cancel your contract. Once you become a client, you have to pay your way out of the contract. Even if the company doesn’t deliver as promised and even if you are not satisfied with their service, you are still going to pay that FEE.

Although the cancellation fee information is evidently placed somewhere on their contract, past clients are saying they weren’t aware of the fee until they decided they wanted out. If you don’t have money to burn, don’t sign that contract. If can’t afford to lose three hundred dollars, don’t sign that contract. If the thought of paying $300.00 to cancel a service you decided you were displeased with ruffles your feathers, don’t sign that contract.

#3) If You Have OK or Good Credit Then You May Want To Find Another Option! – If you have OK or good credit, it’s probably best to find another option other than Debt Consultants of America. Some consumers are great financial planners and when they see trouble on the horizon, they take preemptive measures to insure that their financial outlook won’t be terribly impacted by such things as a downsizing or a layoff. They might move to consolidate their debts or push their creditors for debt settlement.

This way they don’t have to go through the pain of facing late payments or watch their credit score drop dramatically. Some choose the (DIY) Do It Yourself Debt Management, while others choose to have a third party debt settlement company to handle their issue. If they end up becoming clients with companies like Debt Consultants of America, there is a huge problem.

The problem being this; their debt settlement systems are set up to negotiate with creditors only after a person is behind on their payments. So why would these companies sign contracts with clients who have good credit and who are not behind on their payments knowing their system is for people who are behind on their payments? Especially since the client would have to pay a cancellation fee?

It doesn’t take a rocket scientist to figure that one out. Remember the initial question, Should You Become a Client of Debt Consultants of America?” To help you make an informed decision, we’ve provided you with the basics on what to expect. Ultimately, the decision is yours, but at least you won’t go into this type of contract not knowing the reality of what you are signing for.

What We Have: Clear and Concise Paths To Help You Get Out of Debt and Live Debt Free without Losing Your Sanity and Dignity. You Won’t Find This kind of Guidance Anywhere Else. Not For FREE!

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Why You Need a Financial Consultant

Jul 07 2023 Published by admin under Uncategorized

Handling money responsibly is a major topic in the conversation of the economy today, and many individuals as well as businesses are mismanaging their resources. Even the auto industry in the U.S. is struggling with the management of money and avoiding bankruptcy, so the need for a financial consultant can be in both large or small scale. They provide advice to clients for a fee, usually with the creation and implementation of a plan that will help that client to efficiently manage their money. Some who offer this service provide advice for the reduction and management of debt while others provide advice for investing and creating assets.

Many organizations create lasting relationships with their consultants and work with that specialist for many years, trusting their opinion and using them to coach, guide, mentor and be a friend. Finding the right fit for a financial consultant can be a difficult undertaking because building this business relationship requires an assessment of a company´s needs that targets current obstacles while providing future benefits. A specialist that provides a plan based upon that company´s particular needs is valuable, and many times the commission becomes a factor for a consultant´s commitment, and not the desire to create a continuing relationship.

Matching yourself to a financial consultants weaknesses and strengths, their choice in what they offer as well as their specialty can take you through a lot of interviews, so be prepared to see several advisors before settling on someone who you will keep for the long haul. Do you due diligence and check references, any credentials that they claim to have and compare their fees with other financial consultants that offer the same products and services.

As the advisor speaks to you and answers your questions, ask yourself how you feel about that person. Do you respect what they say? Do you like they way they present themselves to you? Do you trust their opinion? These questions should be the very root of your decision to create business relationships with organizations. If the financial consultant you are meeting with approaches you like a used car salesperson, that is probably a sign that their techniques are not meant for you.

Determine what the focus is of a financial consultant is important as well. You want to be sure all of your needs can be assessed and the best plan for your goals can be created and built upon. What kinds of clients does the analyst specialize in? Does that sound like the focus you need for your specific goals? Be sure to do your research and ask questions.

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What Makes a Good Marketing Consultant?

Jun 23 2023 Published by admin under Uncategorized

I spent over thirty years of my life as an advertising consultant and I must say it’s been an amazing experience. I’ve met terrific businesses, people, and made many friends. But the single most reward was the knowledge I gained from all their stories. These interactions made me a better consultant as I was able to pass this insight onto my clients. Yet, this alone, did not make me a good consultant. Rather, it was my attitude toward the customer.

Sure, I did the usual job of researching the business, asking all the: who, what, where, why, and how questions that were expected of someone delving into their background. I also uncovered all the features and benefits of the product or service, Above all that, I had a goal of actually helping the client succeed. This simple plan is the basis for everything that was to follow. It’s not as obvious as it appears.

A consultant is in business to make money. They get paid for their time, talent, and expertise. They are sought out as a physician might be to cure an ailing relative. They provide solutions to problems and long-term treatments. But they can also be greedy. It’s like the mechanic asked to fix a car that manages to also find ten other troubles that you never noticed or probably don’t need attended. The best consultant is one that listens to the client and makes recommendations based upon their current or future needs.

It didn’t take long in my early days to realize how much my clients relied on my input and how I could affect their bottom line. I also realized that we were forming a partnership where they and I could benefit from calculated and well-informed decisions. In some cases, it meant quite a lot of trial and error. I would explain that advertising and marketing was not a science or an art. Instead, it was a series of exercises using past historical examples and case studies that may or may not predict the future results.

Once the client understood the risks, as if they were investing in the stock market, we were both in agreement. I would have them establish a realistic budget, explain ROI, or return on investment procedures, and a reasonable timeline, If they were comfortable with the risk versus return, we could move forward. I also gave them an escape route. If, at any time, a change in business or a change, in their own mind, dictated a new path, I would carefully evaluate their concerns. They were the ones paying the bill and it was their business at stake.

It might be tempting for a novice to extract a large sum from an unwitting business person, but, in the long run, they are hurting themselves. A good consultant will always make money the old-fashioned way: providing excellent customer service. They don’t need to gouge or overcharge. They should always have the best interest of the business first and foremost, forming a partnership and hopefully, a friendship that will prove their value and worth. Payment is a bonus

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Achieving Supply Chain Fluidity Through Supply Chain Consultants

Jun 22 2023 Published by admin under Uncategorized

A supply chain is the system that delivers a product or service from the manufacturer to the consumer. The system includes organizations, people, resources, and processes in order to achieve its goals. These chains can be simple in theory but are almost always highly complex in practice due to the numerous moving parts. Even in small supply chains, total synchronicity is unrealistic, so real-word systems require modeling that integrates flexibility, fail-safes and efficient redundancies.

Stuck in a Loop

In a perfect business world, a company operates via a closed supply loop that is versatile, financially efficient, and environmentally friendly. Most chains, however, are not optimal. There are often built-in inefficiencies or inadequacies that have emerged due to changes in the market or business infrastructure. The remedies for such defects are often simple in theory, but the practical execution of those necessary changes is often a logistical nightmare. This is what is known as being stuck in a supply chain loop, since there is no simple way to make even a minor change without throwing a wrench into the works.

Specialized Consultants

Supply chain consultants specialize in supply chains. They can design them, but they can also find ways to fix and upgrade them while ensuring that the wheels of productivity never stop spinning. Ideally, every business would have a specialist on staff, but the reality for most small businesses is that they cannot afford in-house consultants.

Seeking Assistance

When it comes to supply chain problems, the biggest issues that most small business have are, first, recognizing that there is a correctable problem and, second, being willing to reach out for assistance. In order to overcome the first problem, a business should perform a yearly reassessment. If the business is not able to perform this assessment in house, then it should hire a consultant. It can be very beneficial to have the same consultant or consulting firm perform the yearly assessment and be directly involved in the repairing and upgrading of the chain.


Businesses can often have difficulty assessing and correcting their supply chains because they are a part of the system. This often leads to an objective perspective that is too narrow. Supply chain consultants, on the other hand, are more easily able to see the big picture. They also have the advantage of familiarity with other similar chains. They know what works and what doesn’t, and they are able to achieve efficiency without the trial and error that hamstrings so many small businesses.

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