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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