The USDA 100% Purchase Program The information contained below pertains to the USDA 100% purchase program. No Cheap Real estate. Just a way to finance the home you desire with no money down. This is a real program that is for real estate in all 50 states.
A USDA loan (also called a Rural Development Loan) is a government insured home loan that allows you purchase a home with NO Money Down. USDA Home Loans offer 100% financing to qualified buyers, and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA offers some the lowest rates of any loan, and you will always have a fixed interest rate.
Benefits of the 100% USDA Loan Program for Real Estate
To find out if the property qualifies, go to:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11
click on "accept", then enter the property address.
A USDA loan (also called a Rural Development Loan) is a government insured home loan that allows you purchase a home with NO Money Down. USDA Home Loans offer 100% financing to qualified buyers, and allow for all closing costs to be either paid for by the seller or financed into the loan. USDA offers some the lowest rates of any loan, and you will always have a fixed interest rate.
Benefits of the 100% USDA Loan Program for Real Estate
- No Down payment required
- 1/4th the monthly MIP of an FHA loan
- No cash reserves required
- No 1st time home buyer requirement
- Can be used for new or existing homes not just cheap re-habs
- Fully - amortizing 30 year fixed rate loan
- No prepayment penalty
- No seller contribution limit
- Only a 620 Minimum credit score
- Real Estate in the area you desire
To find out if the property qualifies, go to:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11
click on "accept", then enter the property address.