Do you want to buy a house with no money down??
USDA Rural Development can help you! Lenders and USDA Rural Development have teamed up to provide 100% financing to individuals and families who buy a home in a rural area.
The United States Department of Agriculture (USDA) created the Section 502 Rural Development Guaranteed Home Loan Program - or USDA Loan - to assist low to moderate income families achieve the dream of homeownership.
Though referred to as the USDA Home Loan, the USDA does not lend any money for the 502 Guaranteed mortgage but partners with approved lenders who finance each home. However, with the Section 502 Guaranteed Loan, the USDA does play a key role by backing a portion of each loan to safeguard lenders in case of loss. It is with this backing, or guarantee, that lenders are able to offer eligible rural homeowners advantageous rates and terms.
Take the first step toward your USDA Home Loan by filling out our easy and simple application on polarishomeloans.com.
The USDA Home Loan is a perfect option for those who reside in rural areas, suburban areas and even suburbs of major metropolitan areas. These guaranteed loans have assisted thousands of homeowners purchase a home with affordable interest rates and loan terms; however, before you begin searching for your home, there are a few things you must take into consideration.
With the USDA Home Loan, there are certain home loan qualifications that must be met for the home to be eligible. With qualifications that include construction standards, income standards and cost limits, it is best to begin with the right expectations so that you will have a much easier time locating a home that is suitable and functional for your family, as well as the USDA Loan program. Call us today to take advantage of our streamline process to obtain a USDA loan. We are the #1 lender in OHIO for USDA loans.
A home purchased through theUSDA home loan guarantee program must be located in a qualified rural area. Qualified rural area is defined as open country places, and homes in cities with populations of 10,000 or less. Under certain conditions, the home may be located in towns and cities of 10,000 to 20,000 in population. If you have questions regarding whether a potential home is in a qualified area contact us today at 740 314 5324.
You can shop for a new home recently constructed, or an already existing home. If you decide upon purchasing a new home built within the last 12 months, you will need the following:
If you decide to look for a home previously built, meaning it was constructed more than 12 months prior, the home must meet the following requirements to qualify for a USDA home loan guarantee:
Finding the right home to purchase using the USDA home loan guarantee program can be daunting. But knowing first-hand what you need to look for will help you shorten your shopping time - allowing you to move into a beautiful home soon! We strive to make this process an easy one, this is why we are the #1 lender in Ohio for USDA Loans!!!