$0 Down, 100% Financing
USDA Home Loans are one of the last $0 down, 100 percent financing mortgages, making them one of the most desirable loan programs.
The USDA Loan is a niche mortgage option that only a limited number of USDA approved lenders handle that is available to rural homebuyers, as well as suburban homebuyers. Through the power of the USDA Home Loan, eligible homeowners are able to borrower 100% of a home's value without putting a single dollar down, all with flexible loan terms and competitive interest rates.
The program — also known as the USDA Rural Development Guaranteed Housing Loan or Section 502 Loan — is guaranteed by the USDA and is available to first-time homebuyers as well as repeat homebuyers.
USDA mortgages stand alone as the only zero money down program available to borrowers that have not served in the military. Eligible borrowers will be hard pressed to find a home loan program that offers more favorable terms.
USDA Loans used to be considered "farmers loans" but that is simply not the case anymore. Just about anyone looking to purchase a home outside a major metropolitan area can qualify for a USDA Loan.
Some of the eligibility standards that determine if you qualify for a USDA loan for your home include what county and zip code the home resides in, your current income and credit history, as well as the number of dependents you can claim. Because these guidelines are very specific, it is important to work with a company that has experience dealing with USDA government financing to help determine your eligibility.