USDA Loans
What is a USDA Loan?
A USDA Guaranteed Loan is Government insured
100% purchase loan. These Loans are only
offered in rural area's and serviced by direct
lenders that meet federal guideline's.
Under the terms of the program, an individual or family may
borrow up to 100% of the appraised value of the home, which
eliminates the need for a down payment. Since a common barrier
to owning a home for many low-income people is the lack of
funds to make a down payment, the availability of the loan
guarantees from HCFP makes the reality of owning a home
available to a much larger percentage of Americans.
What does this mean for you?
1. No down payment.
2. Closing costs can be added to your loan making this a true 100% finance option.
3. With a USDA loan there is no mortgage insurance so your payment can down over $100 a month on your average home!
