Who can benefit from this loan?
Buyers looking for a home in a qualified rural area.
Loan Program Details
- 100% Financing – No Downpayment Required!
- 6 percent seller concessions permitted for closing costs
- Finance closing costs, if market value is sufficient
- Gifts permitted for closing costs
- Not limited to first time home buyers
- Homes must be located in an eligible area as defined by the USDA
- Borrowers must meet income limits
- Borrower must not own any other properties (call us for exceptions)
- Low annual annualized monthly guarantee fee keeps monthly payments lower than loans with traditional mortgage insurance