Buy a home with $0 DOWN through the amazing benefits of the USDA Home Loan program.
The USDA Home Loan is a mortgage option that is funded by approved lenders and guaranteed by the USDA. USDA Home Loans offer millions of qualified homebuyers zero money down, 100% financing; the ability for closing costs to paid for by the seller, or financed into the total loan amount; and low, fixed rates.
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The USDA Loan also offers a refinancing pilot program that allows homebuyers who currently have a USDA Loan to refinance into a lower rate. The USDA requires that the mortgage being refinanced is a section 502 USDA Loan and is not delinquent, as well as results in the lowering of the homeowner’s interest rate.
The USDA Home Loan, also referred to as the USDA Rural Development Single Family Housing Guaranteed Loan Program or Section 502 Loan, assists rural and suburban homebuyers achieve the dream of homeownership through low-cost home financing.
As mentioned above, the USDA Loan features $0 down payment, low interest rates, flexible credit requirements, affordable terms and closing costs and fees can be rolled into the entire loan amount – making it a true zero money down program. And, while the program is formally known as a Section 502 mortgage, or Rural Housing Loan, it is not just for rural homebuyers. Many eligible homebuyers don’t fall under the standard definition of rural and live in populated suburban areas.