100% Financing @ 4.75%!

Right now, Alcova mortgage in Blacksburg, is doing USDA loans @ 4.75%.  You can get 100% Financing, with absolutely no money down, at one of the lowest rate we have had in years!  The basics: a family of 4 has to have an annual income of <$75,000, the property has to be on < 3 acres, and it can be your only house (no investors).  There is no private mortgage insurance, because it is a government backed loan (the usda office has the final loan approval verdict), so no added monthly fee for pmi.  The flip side to not having pmi is that there is a loan fee of 3.5% of the purchase price.  So if you loan is for $100,000, there will be a $3,500 usda loan fee.  The good part is it can either paid up front, or added on to the purchase price, and financed in with the loan.  You will also have closing costs (usually about 3% of the purchase price) which can be paid up front, or financed in with the loan.  Right now, it is pretty common place for buyers to ask for closing costs, and for sellers to agree.  It is definitely a great deal.

Hell, I personally got a 100% financing, and after it was all said and done, got $500 BACK at closing.  I know, it was pretty sweet.