When you’re looking for a simple life, and you’re also looking for a mortgage with a low down payment, it’s time to check out what the US Department of Agriculture has to offer.
The United States Department of Agriculture (USDA) designed these loans to pull the population out of cities and into surrounding areas. USDA eligible properties are typically located outside of city limits, in suburbs or rural areas. The USDA Guaranteed Loan is not meant to finance farms; rather, they are geared towards the standard single-family home.
This zero-down, 100% financing home loan has income limits and property eligibility requirements. However, you don’t have to be a first time home buyer to take advantage of this great home mortgage option. The USDA Loan is available to anyone that meets income and credit requirements.