Whether you’re a first-time homebuyer or not, if you’re in the market to purchase a home, there’s a possibility that you qualify for a NO MONEY DOWN home loan! The United States Department of Agriculture (USDA) has created the rural development loan specifically to offer a 100% financing option for homebuyers in eligible areas. What’s even more appealing is that in many cases, you won’t even need funds for closing costs. Furthermore, you may have the opportunity to negotiate a credit from the seller to cover your closing costs.
USDA home loans come with remarkably low interest rates, often lower than conventional rates. The best part is that you don’t necessarily have to be a first-time homebuyer to benefit from this fantastic loan option. The program’s flexibility extends to credit and income requirements, making it highly sought-after for individuals in any stage of purchasing a home.
USDA loan benefits include:
- Full financing available.
- Not restricted to first-time homebuyers.
- Income requirements can be adjusted to fit your situation.
- Credit requirements offer flexibility.
- No need for assets to qualify.
- Enjoy the lowest monthly mortgage insurance rates.
- Available in more than 50% of Connecticut.