USDA Loans
The United States Department of Agriculture Loans
The United States Department of Agriculture offers 100% financing to homeowners who meet established income thresholds and purchase in areas deemed underdeveloped or rural by the USDA. The program has flexible guidelines for those who qualify.
USDA loans:
• Have low-interest rates and low monthly payments for mortgage insurance relative to conventional loans
• Require zero money down with the possibility of purchasing with no money out of pocket at closing
• Allow for a seller’s assist to cover 100% of closing costs
• Allow for debt-to-income ratios higher than conventional loans
• Limited to rural areas specifically identified by the USDA but you don’t have to move to the middle of nowhere to find a USDA home. Many are in or very close to desirable suburban neighborhoods.
• Require zero money down with the possibility of purchasing with no money out of pocket at closing
• Allow for a seller’s assist to cover 100% of closing costs
• Allow for debt-to-income ratios higher than conventional loans
• Limited to rural areas specifically identified by the USDA but you don’t have to move to the middle of nowhere to find a USDA home. Many are in or very close to desirable suburban neighborhoods.
