147 Elm Street Thomaston, CT 06787 24x7 By Appointment 203-994-3950

USDA Rural Housing Loan: Connecticut 100% Financing

  • Be without decent, safe and sanitary housing
  • Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet
  • Agree to occupy the property as your primary residence
  • Have the legal capacity to incur a loan obligation
  • Meet citizenship or eligible noncitizen requirements
  • Not be suspended or debarred from participation in federal programs

Properties financed with direct loan funds must:

  • Generally be 2,000 square feet or less
  • Not have market value in excess of the applicable area loan limit
  • Not have in-ground swimming pools
  • Not be designed for income producing activities

Borrowers are required to repay all or a portion of the payment subsidy received over the life of the loan when the title to the property transfers or the borrower is no longer living in the dwelling.

Applicants must meet income eligibility for a direct loan.  Please select your state from the dropdown menu above.

What is an eligible area?
Generally, rural areas with a population less than 35,000 are eligible.  Visit the USDA Income and Property Eligibility website for complete details.

How may funds be used?
Loan funds may be used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

How much may I borrow?
The maximum loan amount an applicant may qualify for will depend on the applicant’s repayment ability. The applicant’s ability to repay a loan considers various factors such as income, debts, assets and the amount of payment assistance applicants may be eligible to receive. Regardless of repayment ability, applicants may never borrow more than the Area’s Loan Limits (plus certain costs allowed to be financed) for the county in which the property is located.

What is the interest rate and payback period?

  • Fixed interest rate based on current market rates at loan approval or loan closing, whichever is lower
  • Interest rate when modified by payment assistance, can be as low as 1%
  • Up to 33 year payback period – 38 year payback period for very low income applicants who can’t afford the 33 year loan term

How much down payment is required?
No down payment is typically required. Applicants with assets higher than the asset limits may be required to use a portion of those assets.

Is there a deadline to apply?
Applications for this program are accepted through your local RD office year round.

How long does an application take?
Processing times vary depending on funding availability and program demand in the area in which an applicant is interested in buying and completeness of the application package.

What governs this program?

  • The Housing Act of 1949 as amended, 7 CFR, Part 3550,
  • HB-1-3550 – Direct Single Family Housing Loans Field Office Handbook

Why does USDA Rural Development do this?
USDA Rural Development’s Section 502 Direct Loan Program provides a path to homeownership for low- and very-low-income families living in rural areas, and families who truly have no other way to make affordable homeownership a reality. Providing these affordable homeownership opportunities promotes prosperity, which in turn creates thriving communities and improves the quality of life in rural areas.

NOTE: Because citations and other information may be subject to change please always consult the program instructions listed in the section above titled “What Law Governs this Program?” You may also contact your local office for assistance.

Interest Rates

Effective March 1, 2018, the current interest rate for Single Family Housing Direct Home Loans is 3.25% for low and very low income borrowers.

How To Participate In Our Statewide Home Buyer Seminar Series

The System Goes Like This.

  • Each Seminar features a Lender, Exclusive Buyer Broker/Agent, Home Inspector, Renovation Contractor, Insurance Agent, Attorney and a Financial Planner.
  • Each throws in $100 for fb advertising.
  • You post your ad on the event page and your budget is applied to boosting your post.  All ads will be created and tracked by The Green Marketing Company.  The $100 budget is an absolute minimum used to test the ads and responses.  We anticipate spending tens of thousands promoting home buyer seminars across Connecticut and we are looking for other companies that want to grow.
  • Everyone has 20 minutes to present.
  • Everyone is responsible for promoting to their clientele via social media, mail or email.  Call it cross pollination, our buyers need help from professionals like you, and your clients know someone that is interested in buying real estate.

Time:  The first 4 events will be held at 10 am – noon on a Saturday
Location: Local Restaurant,  restaurant provides coffee in morning and a lunch special.
Presentation: Old School Print. People like to leave with something. Please print your presentation for inclusion in the Seminar folders. Bullet points with with web references are great!

As we hone the program we will introduce video.  The initial price point anticipates around 15 people.

At Your Office/Conference room?

Would you be interested in holding one at your offices.
We can create a schedule to promote each office.
Using an established office makes computer/video connections more reliable.

First 4 Locations

March 17  Thomaston  Still need an attorney, financial planner, home inspector
March 24  Danbury   Still Need an attorney, lender, financial planner, home inspector
April 7      Southbury
April 14    Bristol

To confirm a date Call Steve Schappert 203-994-3950  or email

You can mail a check to Buyers Trust Real Estate 147 Elm Street Thomaston, CT 06787
This is the preferred method.
You can also pay us online with a credit card This method costs an xtra 3%

What A Connecticut Buyer Needs To Know About HUD Homes

There are multiple ways of investing in real estate. An HUD home is one of the options. If you are thinking about buying an HUD property, read on to get more details about such an investment:

Definition: HUD homes are those homes which belong to the Department of Housing and Urban Development because they are foreclosed due to the home owner’s inability to repay the FHA mortgage. An FHA insured loan is a mortgage loan given by a Federal Housing Administration- approved lender which is insured by the FHA. The HUD department seizes the property and makes the payment of the mortgage to the lender and becomes the owner of the property. The original owners are evicted from the property.

Process: Generally, the HUD department offers the property at a discounted rate just to sell off the property as soon as possible. However, priority is given to those buyers who are looking to make the property their primary residence. Only if the HUD is unable to sell the property to such buyers, the home becomes available to all types of buyers and investors. Anyone who has the required financial backing to buy the property either with cash or through loans can invest in an HUD home. HUD does not offer direct loans to buyers.

Tips for buying HUD homes:

  1. There are many competitors for an HUD home because of the attractive price at which it is available. In case you are interested in an HUD property, you need to move fast to acquire the property before someone else’s offer gets accepted. You can get a pre-approval for a loan so that you can immediately purchase the property if the offer is accepted.
  2. Doing research is of utmost importance to know more about the history of the property. In many states where disclosure laws are not in place, the buyer is not notified about the dubious history of a property. In such cases, you suffer a big loss by investing in properties which are not fit for habitation. Home inspection is indispensable to ensure that the HUD property is worth investing in.
  3. To get more information about a particular HUD property, you can visit the MLS portals that list HUD homes or you can get in touch with the FHA Resource Center.

It is better to take precautions rather than regretting the investment decision after the deed is done.

What A Connecticut Buyer Needs to Know About Foreclosures

If you are considering an investment in a foreclosure, here’s everything you need to know about such a purchase:

Definition: A foreclosure refers to a mortgaged property which belongs to a homeowner but is seized by the lender because the owner is unable to make the mortgage payments consistently for a certain period of time. The property does not belong to the lender. He just takes possession of it to sell it and get his money back.

Pros of buying a foreclosure property:

  • Great deals- The lender who is foreclosing the property does not wish to hold the property for a long time. So the chances of getting the home at a discounted price are high. The lender is usually willing to sell it at a lower price to get back the bulk of his capital.
  • Moving up- This point is related to the previous one. Foreclosures can be found in every price range and the properties also vary from single family homes to luxury estates. If you are thinking of moving up, you can find a great home at a good price that you could not have otherwise thought of buying at the regular price. You can get a ready home for moving in and save significant amount money at the same time.

Cons of buying a foreclosure property:

  • Lack of guarantee- The foreclosure buying process generally takes normal than usual because of the red tape involved. There is extra paperwork and the involvement of multiple parties- the property owner, lender and other lien holders. They all need to approve your offer price before the transaction can move forward. In some cases, lenders try to get a higher price for the property to compensate for the hassle. So negotiation can also eat up time. Even after agreement, there is no guarantee that you will become the owner because the contract can be canceled for any reason before closing.
  • Repair costs and debts- Buying a foreclosure property is very risky because you inherit the debt that comes with it. The principal lender gets his money but the remaining debt in the form of unpaid taxes, equity loans and construction loans need to be considered. It can be a great financial burden on you. Also, the house may require repairs which the original owners may have neglected due to lack of funds. You need to check these damage repair costs and other debts associated with the property before purchasing.

It is important to be careful and thorough while buying a foreclosure property to ensure that you benefit from it rather than regret it later. Taking the help of a professional real estate buyer’s agent can be helpful.


Two Real Estate Seminars One Date

Maximize Your Equity, Increase Your Profits

Learn how to maximize the equity of your home, investment property. The media will help separate you from your money by promoting ways to increase value. Don’t be fooled you can improve your way into bankruptcy by using the top ten improvement list that only returns fractions of your investment.

Steve Schappert has been helping banks, property managemt companies, investors, home owners and Realtors for over 30 years. Schapperts expertise is increasing the equity with improvements that make a profit. Don’t miss out on his secrets!

Staging Your Investment Property

Connecticut Paint & Connecticut Home Staging & Redesign come together to share tips and tricks that have been learned over 30 years of maximizing real estate values.

Connecticut Home Staging & Redesign will present facts on the benefits of staging vacant properties. Laura Morgan has been staging homes for investors in the Danbury area for the past five years and has a successful track record for quick sales on her investor staged properties. Connecticut Home Staging & Redesign is the only staging company in CT with a private inventory of furniture, art, and décor and caters to investors.

Free Event

Lunch & beverages will be provided at noon

Questions?  Call Steve Schappert  203-994-3950 Email or use the form

New Real Estate Career in 2018?

They Laughed When I Said

I Only Represent Buyers

Then NBC Put Me On TV

I started my real estate career in 1994 with one of Connecticut’s largest real estate companies. I completed their 100 hours of corporate training and when finished I was able to be a cheerleader for the company but didn’t know how to fill out an offer to purchase. This was my first clue as to how things worked and I wasn’t impressed. I moved to a giant national company with 100% splits in exchange for paying rent and did better because I had more control. Next a good friend got her brokers license and gave me a very high split without office rent. So I went to a local landlord and proposed to open the Brookfield Information Center in his shopping center and was able to secure a 500 sf space for just $250 a month. The concept worked well and I prospered. Within six months I obtained my brokers license.

BUYERS TRUST WAS BORN in 1996 the first year buyer brokerage was legal in Connecticut. I sent a simple press release to my local paper and they ran it, “Buyer’s Trust Real Estate, The Only Buyer’s Broker in Brookfield.” The phone rang a few times so I sent a similar release to the regional paper, they ran it and the phone rang.

THEN NBC CALLED, they were creating a special feature for the tri-state area called, “Connecticut Waterfront Treasures”, I was asked if I could accompany Rob Morrison and a film crew to point out house values around the lake. The show aired and my phone rang, I got calls from doctors, lawyers and investment bankers from Connecticut, New York and New Jersey that wanted to buy a waterfront home. I was now the recognized expert so when Kiplinger’s Financial, Woman’s Day Magazine, The New York Times, Real Estate For Dummies & The Learning Channel (TLC) wanted to learn more about buying real estate, they called Steve Schappert and you should too! Call The Buyer Broker Now To learn From An Expert at niche marketing 203-994-3950

YOU WILL SUCCEED IN THIS BUSINESS BY MAKING YOURSELF STAND OUT. Becoming an Exclusive Buyer’s Agent and providing the best possible service for your clients could be the best choice of your life. Are you starting out in real estate or are you simply looking for a refreshing change? Doing things the same old way and following the crowd is a great way to ensure you never stand out in your market or above your competition.

EXCLUSIVE BUYER’S AGENTS ONLY WORK FOR EXCLUSIVE BUYER’S BROKERS. There is one EBA for every 1000 traditional agents in the country. EBA’s never take listings or provide seller representation. Exclusive Buyer Agents take pride in doing things right and not making excuses.

EXCLUSIVE BUYER’S AGENTS WORK SMART, NOT HARD. Referring listings is EXTREMELY profitable. They do all the work, pay for all the advertising, you get paid 20-40% for sending them the lead. Do the math!

TAKE A LOOK AT THE HORIZON IN YOUR TOWN. How many agents stand out in the market place, how many proudly claim to only represent one party in a transaction. Would you hire your soon to be ex-spouse’s attorney to represent your best interests in your divorce proceeding? The attorney has sworn to uphold the law, yet somehow I don’t see things going your way. You will pay for not having full representation for the rest of your life. Buying a home is most peoples largest investment and they appreciate having full representation.

Mike Ferry released a report suggesting agents pick one side of the transaction. “I believe the skill set of an agent who works with buyers is completely different than the skill set of an agent who works on listings. Yes, they both have fundamental skills that all salespeople need … the ability to manage your time, the ability to follow up on leads, the ability to prequalify, the ability to present, etc.”

Ferry went on to state: “… The skill set of a listing agent and buyer’s agent are different from that point forward, meaning the ability to present in a fashion that causes a buyer or seller to sign a contract.

… I (have thought) for years that when an agent gets their license they should have to actually declare, ‘I WANT TO WORK WITH BUYERS’ or ‘I WANT TO WORK WITH SELLERS.’ The majority of agents do not have the total package of skill sets to do both and, in most cases, aren’t willing to learn them because they are so vast…

Investors Love Exclusive Buyer Agents and Exclusive Buyer Brokers. Investors know it makes sense to work with a trained professional that has their best interests at heart. EBA’s know it makes sense to put their clients ahead of their own interests because they keep coming back to buy more.

90 hours of continuing education is paid for by the company when you work at Buyers Trust or Sellers Trust. Buyers Trust has teamed up with Mckissock to provide Learning solutions that give you a competitive edge through high-quality courses, practical on-the-job application and up-to-date information. Mckissock is the nation’s largest online CE course selection complete with top-rated, cutting-edge content. Best of all you can take the courses when ever you want in the comfort of your own home.

LOCATE, NEGOTIATE & RENOVATE: We also own a licensed and award winning renovation company.

Learn More http://www.buyerstrustrealestate.com/connecticutbuyersagent/

***We are also hiring exclusive listing agents. http://SellersTrustRealEstate.com


Call Steve Schappert Today 203-994-3950

[email protected]

Our Craig’s List Connecticut Employment Ads

Pictures Can Be Deceiving

Pictures Can Be Deceiving You Need A Realtor That Won’t Be. Wouldn’t it be great if you could have a contractor show you houses and point out problems (ie. Gingerbread roofing & siding ) before you spend thousands on inspections? Now You Can!

Here Are 5 More Great Reasons To Call Steve Schappert

1. Steve Schappert is an Exclusive Buyer Broker, he only works with buyers / investors.
2. Steve Schappert has performed building inspections on over $36,000,000 of investment properties.
3. Steve Schappert is a licensed & award winning home improvement contractor.
4. Steve Schappert will NEVER ask you to sign a dual agency agreement because he never takes listings.
5. Steve Schappert is THE recognized home buying expert in Connecticut. Schappert has been Interviewed by ABC, NBC, The New York Times, Woman’s Day Magazine, Kiplinger’s Financial and many more.

If You Are Buying Real Estate, Call Steve Schappert Now!
[email protected]

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