USDA

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.