Zero Down USDA Home Loans

There are multiple advantages of a Zero Down USDA Home Loans. Below are the USDA Home Loan
Requirements.

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Zero Down Payment

A USDA Home Loans is a 502 Guaranteed Loan Program. This program assists lenders low to moderate income families and households to own primary residences in eligible rural areas with 100% financing. Eligible applicants may purchase, build, rehabilitate, improve, or relocate a dwelling in an eligible area with 100% financing. The loan guarantee reduce risk to the lenders and therefore can extend 100% financing loans to eligible home buyers. So that means No Money Down for those who qualify.

USDA Property Map

USDA home loans are area specific and only available in eligible rural areas. There is a USDA property map that shows the property eligibility. These maps can change frequently and should be checked on a regular basis if preparing to purchase with a USDA home loan.

The USDA Property Eligibility website is below or you can search online for the USDA website. (https://eligibility.sc.egov.usda.gov/eligibility/)

Once on the USDA Eligibility Site, you can enter a specific address for determination or just search the map to review general areas.

USDA Income Limits & Other

USDA home loans are also subject to income limits or income eligibility, which cannot exceed 115% of the median household income. The USDA income eligibility site can be checked for income limits. Based on your family size and county, there are limits for household income limits that can not be exceeded.

Applicants must also agree to occupy the dwelling as their primary residence. This program also requires that applicants be a U.S. Citizen, U.S. non-citizen national or Qualified Alien.