27 Mar USDA Loans
USDA Loans – Single Family Housing Guaranteed Loan Program.
A Zero Money Down Option. This program assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% loans to eligible homebuyers.
Applicants must:
- Meet income-eligibility
- Agree to personally occupy the dwelling as their primary residence
- Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien
- Have the legal capacity to incur the loan obligation
- Have not been suspended or debarred from participation in federal programs
- Demonstrate the willingness to meet credit obligations in a timely manner
- Purchase a property that meets all program criteria
To see if homes in your area or in an area you would like to live qualifies for USDA, visit:
https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do
To see if your income qualifies for this program, visit:
https://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state
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Additional Reading
https://drive.google.com/file/d/0B3EyTinY-z3leGtLYm1PMG1zZGtPZ3lvOGQtU2plM2FqUTFj/view?usp=sharing