Are You Buying, Selling, Investing, Rehabbing? Come meet others in the business and build your team. Real Estate, Finance & Construction, Law, Insurance, Maintenance Folks Bonding, Networking & Decompressing.
CT Realty Social is a simple social event for folks with similar interests. All those part of the real estate , construction and finance industry are welcome to join us. Break some bread, share a story, share a drink, its that simple.
The secret to bidding on HUD Homes, getting approved to bid on foreclosures, how much to bid on a foreclosure and more! Buyers Trust Provides a free HUD home Buyers Seminar, small class size, and 2 hours of immersive information to help you succeed. Check the schedule on Facebook
Learn from a real estate buying Pro! There is a reason the national media keeps calling Steve Schappert and you should too. 860-740-2811
We are getting ready to produce brand new, full color, custom designed presentation folders for Buyers Trust Real Estate.
The folders are made exclusively available to all the agents at the office to be handed out to all prospective home buyers at the first point of contact. The folders are used to gather all the paperwork accumulated during the transaction and to disseminate information to attendees.
On the inside pockets of the folders we are going to feature 8-10 local businesses that the agents can point out to their clients. The office wants you to be the one of the Vendors that would be interested in getting in front of and referred to every client all year long.
How it works:
-Folders are made exclusively available to all the Agents.
-Folders will be open and in front of buyers and sellers for months at a time.
-The folders will hold all open house paperwork, inspection forms, loan documents,
title report, etc.
-They will be handed out at point of first contact with clients.
Who Will See Your Information:
-Your target market.
-All Connecticut buyers at Buyers Trust Real Estate
-People moving into the local community.
-All visitors at seminars and weekly statewide CT Realty social events.
-Middle to upper income people.
-Local business owners, investors and decision makers
*Note* The average buyer spends $38,000 on home improvements in the first year of owning a new home.
The one time fee includes everything. All pictures, logos, any special lettering or other information you would like included. Your business will be featured in every presentation folder for one FULL YEAR.
$2500 back cover
You will be featured in every Introduction Folder for one FULL YEAR.
What does this program do? Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time. The amount of assistance is determined by the adjusted family income.
Who may apply for this program? A number of factors are considered when determining an applicant’s eligibility for Single Family Direct Home Loans. At a minimum, applicants interested in obtaining a direct loan must have an adjusted income that is at or below the applicable low-income limit for the area where they wish to buy a house and they must demonstrate a willingness and ability to repay debt.
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.
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.
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.
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.
22 Connecticut social events and growing: Real Estate, Construction, Finance It’s really all the same industry. We face the same issues. Make time to chill with others that understand.
Steve Schappert Licensed Connecticut Real Estate Broker and Home Improvement Contractor builds his business one relationship at a time. CT Realty Social is a simple social event for folks with similar interests. All those part of the real estate , construction and finance industry are welcome to join us. Break some bread, share a story, share a drink, its that simple.