USDA Loan Program:
USDA (United States Department of Agriculture – Rural Development) is a loan program that offers 0% down - 100% financing. The program helps buyers who have low to moderate incomes purchase a primary residence in rural areas. The program does have income and area restrictions. They are insured by the U.S. Department of Agriculture.
Benefits of USDA Home Loan Program:
- 0% down payment / 100% financing
- Lower interest rates than Conventional programs for those that meet a minimum score of 640
- Flexible credit guidelines
- Low monthly rural development guarantee fee