| The interest rates today are at a historically low and | | | | for people that live in the rural areas and it can help to |
| you may be looking for ways that you can take | | | | make you a homeowner. |
| advantage and buy your part of the American Dream. | | | | USDA Home Loans are not government loans, but |
| You may not have the 20% down payment required | | | | they are guaranteed by the United States government. |
| for conventional loans or even the 3.5% down | | | | These loans are not for the wealthy but for people |
| payment needed for FHA Mortgage Loans. One great | | | | with modest means and income that is stable. If you |
| possibility for you could be USDA Home Loans! | | | | are a person that has paid your debts on time then |
| If you live in a rural area then owning your own home | | | | you have a good chance of getting one of these |
| may be difficult because it may be a little harder to find | | | | USDA Rural Mortgage Loans. |
| financing for your chance at the American dream. You | | | | Of course, as with any government program there are |
| also probably make less money than people in the | | | | strings attached or certain requirements and |
| larger cites and coming up with the money for a large | | | | restrictions. |
| down payment may be next to impossible. Local | | | | You annual income must be less than the income limit |
| banks in rural areas may require a larger down | | | | established by the USDA. Existing homes and also |
| payment because they are more conservative than | | | | new homes are eligible for this program. There are |
| urban lenders. | | | | some strict restrictions for manufactured homes. |
| But there is a government home mortgage program | | | | Also, the property you want to buy has to be located |
| just for rural areas of the country. It is the USDA Rural | | | | in a USDA eligible rural area as determined by the |
| Home Loan Program. USDA is the United State | | | | USDA. The good news is you can finance 100% of |
| Department of Agriculture and its rural home loans | | | | the appraised value of the property you want to buy. |
| could be what you need to finance your new home. | | | | You can ask the seller to pay for your closing costs. |
| The USDA Home Loans Program is a great program | | | | This means you can buy a home with no money! |