For would be home buyers in Johnson County Kansas there are very few down payment assistance programs. You have HUD homes that are available with $100 down payment but the selection of homes is usually pretty low and many are in very poor condition. Another option is a VA loan but those are only available to current Armed Forces and veterans.
One really good option has been USDA Rural Development Loans, these government loans require no down payment. The only stipulation is that the home has to be in a USDA Rural Development zone. For Johnson County Kansas that encompasses areas of Gardner, Stilwell and Spring Hill. Earlier this year the USDA ran out of money to fund these loans and while congress did add emergency funds to the program most banks were unwilling to underwrite these loans due to changes in loan guidlelines.
Well some recent changes to guidelines has reopened the door to USDA Loans and most banks are underwriting USDA loans again.
If you are looking for a home and need down payment assistance or simply lack the 3.5% down payment needed for an FHA Loan then a loan backed by USDA might be a good option for you.
For more information on USDA Rural Development Loans contact the Russell Home Team at 913-681-1383
To view Gardner Kansas homes for sale click Here
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