USDA
A USDA loan (Section 502) is a home loan that is guaranteed by the United States Department of Agriculture. It typically offers very low and competitive interest rates on home loans to borrowers with no down payment requirements. The USDA Home Loan Program was made available to borrowers with excellent financing terms and flexible credit guidelines to give people an incentive to populate rural areas.
Since the USDA Loan offers 100% financing to buyers and closing costs can be paid by seller or rolled into the loan, homebuyers usually do not have to bring any funds to closing.
There are a few requirements that must be met to be eligible for a USDA Home Loan. Talk to one of our Loan Officers today to learn more.