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. 

Advantages:
  • No Down Payment requirement.
  • Property must be located in an eligible rural area (moved up from disadvantages).
  • Closing Cost can be added into the loan (if the property appraises high enough to include it at up to 102% of the appraised value).
  • Loan government guarantee fee and not monthly guarantee fee.
  • 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 and Repeat Homebuyers.
  • Seller Concessions – 6% max.
  • No cash reserve requirement.
  • No Non-Allowables costs.
  • No First Time Homebuyer Requirement.
  • 30 Year Loan @ Competitive Fixed Rate.
  • No Limit on Gift Funds.

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

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