The Advantages:

• No Down payment is required.
  
• Flexible credit score guidelines.
  

• No maximum purchase price limit.

• Closing costs can come from any source including gifts.

• Repairs and improvements can be included in the loan.

• Competitive fixed 30-year USDA mortgage rates.

Eligibility criteria:

• Occupy the property as your primary residence.

• Do not own an adequate home.

• Do not have sufficient cash for a 20% down payment plus pay typical loan closing and relocation expenses.

• Be a U.S. citizen, a U.S. non-citizen national or a qualified alien

• Provide stable and dependable income for repayment ability.

• Have a credit history that indicates a willingness to meet obligations as they become due.

• Have an adjusted household income that is within Rural Development guidelines based on the number of persons who will occupy the home.

• Purchase a residential property that is located in a Rural Development eligible area.

• No mortgage insurance saves you a lot of money.

• Mortgage insurance raises your monthly payment, which REDUCES the amount of a home loan you may qualify to purchase. Guaranteed loans may allow you to qualify for a newer or larger home to meet your needs

  • Did you know that the typical mortgage insurance premiums for the first 10 years on a $100,000.00 loan could cost you $6,000 or more? The mortgage insurance can continue beyond the 10 years. The cost of Rural Development's guarantee is only $3500.00 on a $100,000.00 loan.

  • No mortgage insurance allows you to qualify for a larger mortgage amount.

• There is little or no cash required for a down payment or closing costs in most cases.

Simply complete the Information Request Form below to get more information or apply online