Zero-down, 100% financing is one the greatest benefits of the USDA Loan program.
Understanding FHA Loans
The United States Department of Agriculture (USDA) offers a loan program for rural and suburban home buyers who meet certain income requirements. The program is designed to "improve the economy and quality of life in rural America." With a zero-down financing option, and less stringent credit requirements, the program is designed to help low- or moderate- income borrowers buy, repair or renovate homes in rural areas.
In order to qualify for a USDA loan, borrowers must meet certain income requirements, which vary by location and depend on household size. For additional information about USDA loans and to check on property eligibility, please visit the USDA Eligibility Website or give us a call and we would be happy to help.