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See if you qualify for a $0 DOWN USDA Home Loan Get Started Here
The USDA loan is one of the most beneficial programs for homebuyers wishing to purchase a home outside of densely populated areas.
Designed to help rural Americans achieve the dream of homeownership, the USDA loan comes loaded with benefits that open the doors of homeownership to many who may not otherwise qualify for conventional home financing.
Of the many advantages, the most cited is the ability to obtain 100 percent financing. This means qualified borrowers can purchase the home of their dreams without having to spend years saving for a down payment.
USDA loans are one of the last remaining $0 down payment mortgage options out there.
Other benefits of the USDA loan include:
For the USDA single-family guaranteed home loan program, the USDA is not a lender, but guarantees each loan against default.
Due to this guarantee, lenders have greater confidence in borrowers and are able to provide highly attractive loan terms to qualified candidates who meet the USDA loan eligibility requirements.
Any individual or family who plans to occupy a home located in an eligible rural area as their primary residence may qualify for a USDA Rural Development home loan.
An applicant for the USDA mortgage guarantee loan must provide sufficient income verification and a credit history that indicates an ability and willingness to meet repayment obligations.
Lenders may have their own internal guidelines and requirements in addition to those set by the USDA.
Interested homeowners can contact a home loan specialist to see if they are eligible.
Using a USDA Loan?