Home Ownership in Green Bay>Question Details

Diana Sparap…, Home Buyer in Kingsford, MI

30 year loan through rural housing 0 down?

Asked by Diana Sparapani, Kingsford, MI Wed Oct 10, 2012

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Justin C. Scott’s answer
The eligibilty requirements for USDA just changed January 15th, there are now MORE areas eligible for that zero down payment option.

Generally the income requirements are not only low, but high as well.

Be sure to check with a local mortgage bank, often times you can be better paired with a direct lender than a broker.
0 votes Thank Flag Link Mon Feb 3, 2014
Yes - USDA is still no money down. Two things to consider through with the USDA loan program. #1 - Make sure you check maximum income guidelines per county. (You can't make to much money. Basically a moderate to low income program.) #2 - There is a USDA map that shows whether the property is eligible. Has to be in a "rural" area. Here is the direct link to USDA which show's income and property eligibility. Good Luck!

0 votes Thank Flag Link Tue Dec 10, 2013
Hi Diana,

The link below has some additional information on that loan program. Check w/ your local mortgage broker or bank for further details.
0 votes Thank Flag Link Wed Oct 10, 2012
If you are asking if there is such an an option - yes there is under the USDA Rural financing you can purchase a home with 0 down and a 30 year mortgage.
0 votes Thank Flag Link Wed Oct 10, 2012
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