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BY SHARON GERBER – Many people are unaware that there is still 100% financing available for housing loans. There are definitely eligibility requirements for the property and the borrower. To find out if you are eligible, this website is an excellent resource: http://www.eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

As an example, the whole island of Kauai is considered rural. This does not mean that every property on Kauai is eligible for this loan, but does broaden the liklihood that a property would be eligible. Condos are also eligible as long as they are already on an approved government list, such as VA or FHA.

Income eligibility is a key piece as well. The income guidelines are generous. I recently closed a USDA/RH loan for a single borrower that makes just under $50,000 per year.

For more information, or if you have any questions, please contact me.

Sharon Gerber is a Senior Loan Officer for HawaiiLife.com

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Hawaii Life is a locally developed, locally owned collaboration of Realtors, owners, and marketers. With six offices throughout the islands, Hawaii Life connects buyers and sellers while providing innovative technological tools and services to Realtors to facilitate efficiency and success. In just 3 years, Hawaii Life has grown to be the 9th largest real estate brokerage in the state.