{"id":20008,"date":"2018-06-13T09:08:45","date_gmt":"2018-06-13T13:08:45","guid":{"rendered":"https:\/\/pfh.ysh.temporary.site\/website_d1c340c1\/?p=20008"},"modified":"2018-06-13T12:21:19","modified_gmt":"2018-06-13T16:21:19","slug":"usda-home-loans-wake-county-map-changes","status":"publish","type":"post","link":"https:\/\/pfh.ysh.temporary.site\/website_d1c340c1\/usda-loans\/usda-home-loans-wake-county-map-changes\/","title":{"rendered":"USDA Home Loans in Wake County"},"content":{"rendered":"

There’s a mortgage program that has been very popular in Western Wake County that requires no down payment, and it is offered by USDA.<\/strong>\u00a0 It’s designed for “Rural Areas,” and is offered as a way to spur growth in those more traditionally rural parts of our state.\u00a0 In Holly Springs, Fuquay Varina, Knightdale and Wake Forest the USDA Home Loans have been traditionally available within the whole city limits.\u00a0 The maps that govern where\u00a0USDA Home Loans<\/a> in Wake County can be making it more difficult to buy a home using USDA Home Financing after June 4, 2018.<\/strong><\/p>\n

Holly Springs is located about 30 minutes from downtown Raleigh<\/a> <\/strong>\u2013 and is also close to Fayetteville. Many families choose this area to live because of the proximity to Ft Bragg<\/a>.\u00a0 More recently, because of the\u00a0advancement of I-540, commuting to jobs in the Research Triangle Park are that much quicker.\u00a0 The Town has also added many large box retail shops along Highway 55, making it easier to stay in the Fuquay Holly Springs<\/a> area for shopping.<\/p>\n

Fuquay Varina, also in the Western Wake County area\u00a0is in a unique location<\/strong> \u2013 not just because it\u2019s located near Raleigh \u2013 it\u2019s also one of the closest Wake County Communities to Fayetteville. Because of it\u2019s unique location \u2013 Fuquay Varina is experiencing a faster paced Real Estate Market than other parts of the Triangle.\u00a0 It is benefiting from expansions at Fort Bragg,\u00a0 the completion of I-540, and the number of manufacturing facilities coming to this part of Wake County, including the growing Lenovo and Novartis plants.\u00a0 The town grew from 4500 residents 2 decades ago to 27,000 people now.<\/p>\n

Many of those new residents are looking for homes with little or no down payment, because many first time home buyers have not been able to save for a home.\u00a0<\/strong> Why is that?\u00a0 Rent prices are at an all time high, and most first time home buyers have student loan debt.\u00a0 This means they are having to rely on family and the “Bank of Mom and Dad<\/a>” to help out buying a home.\u00a0 What if that’s not an option?<\/p>\n

USDA Home Loans in Wake County<\/h2>\n

That’s where USDA Home Loan Mortgages come into the consideration.\u00a0<\/strong> For years folks who wanted to live in a small town like Holly Springs, Fuquay Varina, Knightdale and Wake Forest needed to have enough money pulled together to pay for part of their closing costs, but other than that they knew they didn’t need money for a down payment.<\/p>\n

USDA Home Loans in Wake County don’t require a\u00a0 Down Payment, they are 100% of the Sales Price Loan!\u00a0<\/strong> \u00a0For the last 10 years, you could ask the Sellers to pay closing costs<\/a>.\u00a0 With the shortage of houses available to purchase shrinking so drastically, the chances of having a Seller pay closing costs is limited.<\/p>\n

According to one survey,\u00a0more than 17 percent of millennials surveyed expect financial help from family towards a down payment.\u00a0<\/strong> Gifts are allowed with USDA Home Loans.\u00a0 In fact there are only a few “quirky” restrictions for USDA Home Loans in Wake County:<\/p>\n