USDA Home Loan for Rural Property

USDA Guaranteed Rural Housing Program

Highlights of the USDA mortgage program:

  • No down payment required
  • No minimum borrower contribution
  • Gift funds allowed to pay for borrower’s closing costs and prepaids
  • No first time homebuyer restrictions
  • Seller concessions allowed
  • Liberal qualifying ratios
  • Loan limits may be greater than FHA programs
  • Available for single family primary residences

Continue reading “USDA Home Loan for Rural Property”