No Money Down USDA Home Loan

Home buyers can purchase a new home with no down payment by financing with a lender offering USDA home loans. USDA is the no money down home loan.

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What is a USDA Loan?

Remember no down payment, 100% financing? Most people think, VA loans being the exception, that buying a home without a down payment died along with stated income, stated asset loans when the housing market crashed. However, experienced lenders have been wielding USDA guaranteed loans as an alternative to conventional and FHA financing when the opportunity presents itself.

Am I Eligible for a USDA Loan?

The key to USDA is eligibility. And let's get right to it. You're not buying a home in downtown L.A. with a USDA loan, so if you are buying in a huge metro area, stop reading.

The home you buy must be in a USDA eligible area. Additionally, there are income caps that limit eligibility. You can find both USDA eligible areas and income limits on the USDA website.

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Next: FHA Loan Limits Explained

*Every effort is made to post valid, up to date information. Mortgage guidelines and programs constantly change. Therefore, the content of each post should be viewed and used as a starting point. Please contact us for current guidelines pertaining to this post or for more information.

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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
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Every effort is made to maintain accurate calculations for each program listed. Actual numbers may vary.

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