Finally, USDA has funding again. I have confirmed this with The USDA office that handles Fort Bend and Montgomery County. This is an amazing mortgage program:
- You will not need a down payment. That's right 0%!!! FHA loans require a down payment of 3.5% and a conventional can require 5% or more.
- And the seller can pay all or some of your closing costs. This would allow you to get in the home with the least amount of money possible.
- You will not have any monthly mortgage insurance. This will give you an even lower monthly mortgage payment then a conventional loan or a FHA loan.
- a USDA loan is a government loan.
The home must fall in a "rural area", so please call me today to find out if the home qualifies. For more info on USDA mortgages check out: USDA.