If you are looking to buy a home, whether you are a first time homebuyer or not, you might be a candidate for a NO MONEY DOWN home loan! The United States Department of Agriculture (USDA) developed the rural development loan to provide a 100% home financing option for home buyers in select areas. In most cases, you do not even need to have money for closing costs. In addition to this, you can even negotiate a credit from the seller to pay for your closing costs.
Interest rates on USDA home loans are very low – usually even lower than conventional interest rates. You don’t have to be a first-time home buyer to take advantage of this incredible loan option either. Credit and income requirements are also flexible, making this program extremely popular for anyone looking to purchase a home.
USDA loan benefits include:
- 100% financing.
- You don’t have to be a first-time home buyer.
- Flexible income requirements.
- Flexible credit requirements.
- No asset requirement.
- Lowest monthly mortgage insurance.
- Available in over half of CT.