USDA Home Loans are one of the last $0 money down options available to homebuyers. The USDA loan is widely available. In fact, 97 percent of the geographic of the United States is eligible to participate. The USDA Loan is also known as the USDA Rural Development Guaranteed Housing Loan, or Section 502 Loan, due to the focus on rural homebuyers and many suburban homebuyers.
USDA Loan Features:
- 100% Financing
- Lower Rates
- Loan Eligible throughout 97% of the geographic United States
- Lenient eligibility requirements
- Many Property Types Allowed: new and existing homes, modular homes, Planned Unit Developments (PUD), condominiums and brand-new manufactured homes.
- Closing costs and lender fees can be rolled into the loan.
- Gifted Funds, Grants, Mortgage Credit Certificates (MCC's) and Seller Concessions accepted.
- Renovation and Repair Costs Can be Included in the Loan Amount.