No money down, USDA

Here's Why... 

USDA home loans offer a few benefits that other mortgage programs cannot match, including no down payment and financed closing cost. If the home appraisal allows,  the closing costs can also be wrapped into the mortgage resulting in no money needed at the closing table.

USDA is the only mortgage program that allows for all closing costs to be financed into the loan amount on a home purchase.  Interest rates for USDA mortgages are comparable and often lower than the low fixed rates of Conventional, FHA and VA financing.

The USDA Mortgage program does have restrictions when it comes to location and income, so a quick check on this key qualifying criteria should be done first.

            Benefits of the USDA Mortgage Program

True 100% no money down financing.

• The ability to finance in your closing costs (if the appraised value supports the loan amt)
• The seller may contribute up to 6% of the purchase price towards your closing costs
• Low fixed interest rates.
• More flexible credit qualifying guidelines with minimum 620 credit score
• Often available for properties in towns and suburbs too