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The mission of USDA Rural Development’s Single Family Housing Guaranteed Loan Program is to assist low- to moderate-income rural home buyers achieve their dream of home ownership!

100% financing opportunities are available to eligible rural individuals and families for the purchase of safe and sanitary dwellings.

Applicants must purchase a home within the eligible rural areas, and have a household income that does not exceed the established limits where the home is located. Some information you need to know about USDA loans:

100% financing, no down payment is required. The loan amount may not exceed 100% of the appraised value, plus the guarantee fee may be included.

· Guarantee Fee applies: may be rolled into the loan amount.

· Flexible credit guidelines. Non-traditional credit histories may be accepted.

· Fixed 30 year interest rates apply.

· Qualifying ratios are 31% for housing costs and 41% for total debt. Lenders may request an exception to exceed these ratios when strong compensating factors are identified.

· No maximum purchase price. Qualifying ratios and the applicant’s stable and dependable income will determine home affordability.

· Eligible closing costs and lender fees may be included in the loan or paid by the applicant.

· Gift/Grant Funds/Mortgage Credit Certificates (MCC’s)/Seller Concessions are allowed.

Not limited to first time home buyers.