“Plenty of communities right here qualify for USDA loans, and lots of patrons don’t even understand they’re eligible,” he mentioned. “It’s a incredible product as a result of it eliminates the largest hurdle – down cost prices. I’ve labored with patrons who had lower than $2,000 of their account, but we have been in a position to get them into a house because of vendor concessions and USDA advantages.”
De La Garza’s place as a dealer permits him to work with a number of lenders, every with completely different underwriting pointers and credit score rating necessities. “Some lenders require a minimal credit score rating of 600, whereas others go as little as 550,” he mentioned. “By accessing completely different lending choices, I can discover the most effective match for my purchasers, making certain they’ve each attainable alternative to qualify.”
Constructing stronger communities by homeownership
Past particular person success tales, De La Garza believes that DPA and USDA applications play an important position in strengthening whole communities.
“I work with many patrons who’ve been turned down earlier than resulting from monetary struggles or poor credit score historical past. After they lastly safe financing by these applications, it’s life-changing. They take delight of their houses, spend money on their neighborhoods, and construct generational wealth,” he mentioned.
In small cities, the affect is particularly profound. “We glance out for one another in these communities. When somebody turns into a house owner, they encourage others to do the identical. A well-maintained dwelling encourages neighbors to spend money on their properties, and that strengthens your complete city.”
