USDA Mortgage
The USDA loan program is a government-backed mortgage option that assists low- and moderate-income borrowers in rural areas with purchasing homes, offering zero-down payment options and flexible credit guidelines.
THE DETAILS:
If you are looking for a home in a rural area, the USDA Loan Program offers low-and moderate- income borrowers more affordable housing finance options with little or no down payment or out of pocket costs. USDA’s definition of rural is liberal – 97% of properties can qualify for the program.
ADVANTAGES :
- No down payment
- Only 1 credit score required per borrower
- Seller can contribute to the borrower’s closing costs
- Fixed Rate 30 year
- Minimum Credit Score of 620