USDA Loans

The USDA Rural Housing Service has various programs available to aid low to moderate income rural residents to purchase, construct, repair, or relocate a dwelling and related facilities. USDA rural housing loan programs allow qualified homebuyers to get loans with minimal closing costs and no down payment. Property must be in an eligible area for the USDA Loan Program.

Advantages:

  • No down payment requirement
  • Low interest rates
  • Applicants with a wide range of credit profiles
  • Income eligible applicants who do not qualify for conventional financing
  • Families & individuals that have minimal funds for a down payment and closing costs
  • Includes First Time Homebuyers
  • Seller Concessions (6% Max)
  • No cash reserve requirement
  • No First-time Homebuyer Requirement
  • 30 Year Loan at Competitive Fixed Rate
  • No Limit on Gift Funds

Features:

  • Property must be in very good condition and have a high insulation R-factor
  • You cannot make over 50% of 115% of the median county income to qualify
  • Must be able to verify income limits

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