USDA Home Loans Blog

Need a "No Money Down" mortgage? A USDA rural development mortgage may be the answer.

This is the perfect program for current renters that do not have a down payment and are wanting to take advantage of current home prices and low interest rates. In most cases, renters can end up with a lower payment , including taxes and insurance, than they are currently paying in rent.

Major criteria to qualify for this program.

Property must be in an eligible area. Most large cities do not qualify however many of the suburbs do. Go to www.USDAHomeLoans.biz and click on eligibility maps to see what areas of your county qualify.

Credit needs to be decent. You need a minimum of a 620 middle score to qualify.

Income limits. The average income limit for a family of 1-4 is around $76,000. For a family of 5-8 it goes up to the mid 90’s. Go to www.usdahomeloans.biz/USDAIncomeLimits to determine what the income limits are for your county.

For more information on this program go to,

www.USDAHomeLoans.biz