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Good Credit but No Down Payment? There's a Loan for That!
So, Warren Buffet spends more on dinner than you make in a month, and you've never required the services of an investment banker, but you have good credit and you long to own your own home. What if we told you that there is a mortgage loan program out there for people just like you and (here's the best part) it requires no down payment?
Despite what you may have been hearing in the media about lenders tightening their belts and mortgage requirements becoming more stringent, the USDA offers a zero-down mortgage for folks who don't make gobs of money.

History of the USDA Loan In 1944, the Department of Agriculture was reorganized and the USDA Rural Development program was born. It set about providing, among other things, rural housing loans that fell outside the jurisdiction of the farm programs handled by the Farmers Home Administration (FmHA).
Today, the Rural Development agency makes direct loans, loan guarantees (similar to the FHA-guaranteed loan) and grants to low-to-moderate income families. The loans are used to rehab, build and purchase homes in rural areas.
Homes Eligible for the USDA Mortgage The operative words for this mortgage are "rural development," meaning that the home ... more

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