Financing Strategies Walnut Creek, CA

Do You Qualify For One Of These Financing Strategies?

You have more options than conventional loans when looking for home funding.

When it comes time to buy a home, most people look straight to conventional loans to get the funding they need. However, there are many other types of loans that are available that can help you move into the home of your dreams. Consider if one of these unique financing strategies will work for your situation.

USDA/RHS loans

The United States Department of Agriculture (USDA)’s Rural Housing Service (RHS) offers loans to people with low to moderate incomes for single-family homes in rural areas. In order to qualify for a USDA guaranteed loan, you have to purchase a home in a certain area, have a monthly house payment that is 29 percent or less of your household monthly income, be a U.S. citizen, and meet a minimum credit score requirements. Also, your income cannot exceed a specific level that is determined by where you live.

VA loans

Veterans Affairs (VA) loans are for military service members and their families. To qualify for a VA loan, you have to be planning to buy an eligible property, plan to move into the house within 60 days, have a minimum required credit score and income, and meet the active duty service length requirement.

Physician loans

These types of loans are reserved for newly licensed medical doctors, fellows, and residents who generally have heavy student loan debt with very little savings. The requirements for physician loans will vary from lender to lender, but you may have to show an employment contract as proof that you will be able to repay the loan. Many lenders will also require the loan payment to income ratio to be at or below 38 percent.

Working with the right lender can help to make sure that you are able to get the right loan for your specific situation. Contact Andraya Coulter for all of your home loan needs in Walnut Creek and all of California and Texas.


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