Under the terms of the USDA Loan Program, an individual or family may borrow up to 100% of the appraised value of the home, which eliminates the need for a down payment. Since a common barrier to owning a home for many people is the lack of funds to make a down payment, this program can help make home ownership a reality.
USDA Loan Program Benefits*
- Up to 100% Financing based on APPRAISED value = ZERO down payment
- No monthly mortgage insurance – one time guarantee fee of 3.5% (Can be financed into the loan)
- No reserves required
- No first time home buyer restrictions
- 100% gifting permitted
- 30 year fixed rate only
Please note: There are maximum income and property limitations.
P.S.- If you’re interested in this loan I recommend trying Cheryl Barber with
Home Bridge Mortgage. Call Cheryl at 520-560-2109