USDA Loans

The U.S. Department of Agriculture (USDA) has developed a true no down-payment loan program aimed at rural properties — the USDA website has a list of qualifying counties.

Rural properties can be difficult to finance with conforming loans programs due to the lack of comparable properties to establish value with an appraisal. USDA loans were created specifically to lend on these properties.

Highlights of the USDA program include:

• No down payment
• Flexible credit score guidelines
• No maximum purchase limit
• Closing costs can be from any source including gift funds
• Repairs and improvements can be included in the loan

For more information or to see if you and your property are eligible, please visit the USDA website at rurdev.usda.gov.

If you are interested in moving forward with seeing whether a USDA loan is the right loan program for you, please contact me anytime.