Guaranteed by the USDA, Rural Development loans are a special zero down payment mortgage loan for eligible candidates. Designed for low to moderate income people to buy, repair or renovate a home in a rural or suburban areas. 100% financing with no down payment and below average mortgage rates.

• Single family direct homeownership loan
• Single family guaranteed homeownership loan
• Rural repair and rehabilitation loan

All USDA loans offer low effective interest rates, some as low as 1 percent, and don’t require a cash down payment. To qualify you must have a decent credit history, and not all properties qualify for USDA loans. Your household must have an income below 80% of the median income for the area; be without adequate housing; you must be able to afford your mortgage payments, taxes and insurance for the property, and be unable to get credit through another lender.