USDA Loans for Low Income Buyers

USDA loan program

Did you know it’s possible to purchase a home through a USDA loans program even if you are considered among the “low income”? How about this; not only can you do so, but it can be done with next to no money out of pocket. That is correct, you heard that right. No money out of pocket. So let us tell you how…

The U.S. Government has backed a loan program through what is called USDA Rural Development (RD). It offers terms to give a low-income borrower the ability to purchase homes in rural areas. It almost sounds too good to be true, and the options of USDA are not just for purchase options but refinancing as well. They are fixed-rate and fixed-term loans with a maximum base loan up to 100% of the appraised value- and in some cases you can finance up to 2% over the appraised value.

So now, you found the home of your dreams in one of the eligible rural areas, and you are approved for a loan to purchase this property. What about closing cost? Well the good news is that in some transactions even those can be financed as well as other prepaid expenses. And this purchase option of a USDA property is also great for those who may not have perfect credit as there is a low minimum credit score requirement and flexible credit terms, not to mention the ability to substitute a lack of credit history for a nontraditional credit substitute.

So before you give up hope on ever owning your own home, or settle for a less than desirable rental option let us help you, you will be shocked when you see the areas USDA is accepted. We work closely with an expert lender who handles these types of loans. Once you provide him with your basic information, he can let you know if and what you are approved for that same day. It is truly as easy as it sounds, and we will help you through every step of the process.

So here is step 1, give Matt Prizzi a call today at (856) 985 9944 x104 or send him an email He is well versed and been in the business a long time. And if find you are not eligible at the moment, he can help give you some steps to assure you get yourself set up in the future for home purchasing. And once you are approved, let’s get you started on the path to being a home owner!