100%, no-money down mortgage financing.

100%, no-money down mortgage financing. 

If you've never heard of the USDA loan program, you're not alone. It's a niche product serving a fraction of the U.S. housing market, and most banks don't offer them. However, eligible suburban and rural home buyers can use it for 100%, no-money down mortgage financing.

The program's full name is the USDA Rural Development Guaranteed Housing Loan program. Most people call them "USDA loans", "Rural Housing Loans" or "Section 502 loans".

USDA loans are insured by the U.S. Department of Agriculture and the program's biggest feature is its option for "no money down" financing. Via the USDA, you can finance 100% of a home's purchase price while getting access to better-than-average mortgage rates.

Beyond that, USDA loans are similar to other common loan types. The repayment schedule is "normal", closing costs are standard, and there are never prepayment penalties to pay. Where USDA loans are different, though, is with respect to its downpayment requirements and its simpler loan approval standards.

Rural loans can be used by first-time buyers and repeat home buyers alike. Homeowner counseling is not required to use the USDA program.

Contact me if you want to know more about how you can become a homeowner! I am here to help you!
  Lisa Bear,  lisabear@remaxrealtycenterinwisconsin.com or 262-893-5555
 if you want to know more about how you can become a homeowner! I am here to help you!