The USDA Rural Development loan program helps home buyers in eligible areas purchase a home with no down payment. The eligible areas include all of Fayette and Tipton counties, but does not include population centers such as Memphis, Bartlett Germantown and Millington. However areas near Memphis and part of the Memphis Metopolitan area do have areas and homes that would qualify for the program.
As you can see from the map above that areas North of Millington are eligible as are areas North and even slightly South of Hwy 385; areas such as Lakeland and Arlington. To the East you only need to go out as far as Houston Levee Road to find homes that are in an eligible area. To the Southeast, in the Collierville area, you would simply need to go out about a half mile past Collierville-Arlington Road to reach the area that is eligible for USDA Rural Development loans.
If you have found a home in the Memphis area and are unsure if it is in an eligible area, you can give us a call and we will be happy to search the specific address and let you know if it qualifies for the RD program.
Call us today at 866 435 6553 to get approved for your new home loan with no money down.