Julie Chapman
Agent
Brunswick, GA

The USDA Rural Housing Guaranteed and Direct Loan Programs have helped a lot of people in Georgia realize the dream of owning their own home. This is a basic overview of the loan programs:

502 Guaranteed Single Family Housing Program: Loans for families to purchase homes. The program is 100% financing, no down payment. All of these loans are for 30 years and the interest rate is currently around 4 3/4% fixed according to Garreth Thomas of Mortgage Services of America. The families must show repayment ability and have good credit. This program is for families to purchase homes but is not limited to first time homebuyers. These loans are for families with higher income (moderate income families). These loans are actually made by a participating lender and have no loan limit.

Direct Single Family Loans are available at 4% Fixed Rates on 33 year terms. This program is also 100% financing and no down payment.

For more information contact your local USDA office.