This United States Department of Agriculture offers 100% financing to homeowners who meet established income thresholds and purchase in areas deemed underdeveloped or rural by the USDA. The program has flexible guidelines for those who qualify. USDA loans
- Have low interest rates and low monthly payments for mortgage insurance relative to conventional loans
- Require zero money down with the possibility of purchasing with no money out of pocket at closing
- Allow for a seller’s assist to cover 100% of closing costs
- Allow for debt-to-income ratios higher than conventional loans
- Limited to rural areas specifically identified by the USDA but you don’t have to move to the middle of nowhere to find a USDA home. Many are in or very close to desirable suburban neighborhoods.