Chew on this: A loan option with typically no down payment


When you think of the USDA, do you have visions of the major food groups? Perhaps you envision USDA-Certified stickers on your favorite foods at the grocery store? Well, chew on this – the USDA also has a home loan product called the Rural Housing Loan program. It is a product of the U.S. Department of Agriculture, and therefore also called a USDA loan. Due to its name, many (and understandably so) have assumed that this loan only applies to farming or agricultural areas. But did you know that many suburbs of major cities also qualify for a USDA loan program?

The program has gained in popularity in recent years. Although the program is designed for low- to moderate-income home buyers, it may be worth your effort to see if you qualify. The income eligibility limits may surprise you. For example, in Arkansas the annual household income can be as high as $89,000.  Call me and I will be happy to see if you are eligible.

This program can be used by first time buyers and repeat buyers. There is no maximum loan amount for the USDA loan program. Generally to qualify, your debt-to-income ratio must be 41% or below. Financing is offered as 30-year and 15-year fixed rate loans. Mortgage rates will vary, but are very competitive with the current fixed market rates.

You may also be surprised at the areas that qualify for a USDA loan. With many areas to choose from and flexible qualifying guidelines, this may be the program that satiates your home buying appetite. Here’s to a toast and your first meal in your new home!

Call me today to see if you are eligible for this zero down payment program!  I would love to help you get into the home of your dreams!  501.229.7145

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