Guaranteed Rural Housing Loan Program:
Offering 100% financing with no down payment, this Guaranteed Rural Housing Loan Program provides compelling affordable housing options for lenders, borrowers and families. Vashon fits the requirement for this program.

o Income limits are 115% of area median (for King County, four person household adjusted limit is $88,400 maximum income.)

o Maximum loan amount up to 102% when the guarantee fee is financed into the loan.

o Loan can include closing costs and repairs if appraisal is higher than sales price.

o No monthly mortgage insurance premium payment is required.

o No minimum credit score.

o No cash reserves are required.

o Borrowers do not have to be first time home buyers.

o Flexible Underwriting – Higher ratios considered with compensating factors, including credit scores over 660, job stability and similar housing expense.

o Ample funding available all year.

o No federal recapture.

o No loan limits


o One time 2% Guarantee Fee.

What is Title Insurance?

When purchasing a home, it's important to know that you are buying
exactly what you intended. A title company begins this task by researching
the historical records concerning a property. These records include deeds,
court records, property tax records, county assessment records & property
and name indexes.

Why Do You Need Title Insurance?

You need title insurance because any home, no matter how new or
apparently secure, is built on land as old as the earth itself. Undoubtedly,
this land has had many previous owners. Claims against any one of these
persons can be filed against the property and you as the present owner.
Title insurance protects against loss due to unexpected rights on the
property and also protects against any "hidden hazards" that are not
revealed by even the most diligent title search. A title policy also insures
that your title is marketable, which is valuable protection when the time
comes to sell your home.