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The United States Department of
Agriculture (USDA) has a rural development program to help
make affordable housing available in rural areas. This
program has some key advantages compared to other types of
home mortgages. Here are some key features and
benefits; |
|
Features |
Benefits |
|
No down payment required |
Qualify now without waiting to save down
payment funds |
|
100% Financing |
More clients have the opportunity for
home ownership |
|
Seller may pay your closing costs up to
6% |
You may not need to pay closing costs out
of pocket |
|
No cash reserves are required |
You do not need to prove a certain amount
of bank balance |
|
Very low finance rate |
Lower monthly payments |
|
No monthly private mortgage insurance is
required |
Another factor that reduces your monthly
payment |
|
No maximum purchase limit |
Clients can select a home that meets
their needs and repayment ability |
|
No minimum credit score |
Reasonably good credit is required but
there is not a minimum FICO score to qualify |
|
NOT just for first time buyers |
More clients can qualify |
Featuring
the USDA Rural Development Program 
