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A USDA direct loan is part of the Section 502 Direct Loan Program, and the two loan names are often used interchangeably. The program was created to help low-income buyers purchase safe, sanitary homes in rural areas with some assistance from the USDA.

Benefits of the USDA Loan. Low down payment options.USDA loans are either guaranteed or made directly by the USDA. This means buyers are often able to come to closing with zero money down and leave with their own home.

What is a USDA Loan? A USDA loan is a mortgage option available to rural and suburban homebuyers. Guaranteed by the U.S. Department of Agriculture, USDA loans enables lenders like Freedom Mortgage to provide low-to-moderate income families the opportunity to purchase or refinance a home in areas outside of metropolitan locations.

Direct Loans for Very Low-Income Borrowers. The USDA’s Direct Loan program provides financial assistance to low- and very low-income borrowers. The USDA provides a payment subsidy which helps homeowners make their monthly payments more manageable. All or part of the subsidy must be repaid when the borrower sells the home or moves out.

USDA Home Loans. The U.S. Department of Agriculture created the USDA housing program to help farmers and low income families in rural parts of the country become homeowners. In order to be eligible for a rural development loan you must buy a property located in an eligible rural location.

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A USDA home loan is a 100% financing (zero down payment) mortgage offered by the U.S Department of Agriculture to home buyers in less densely populated areas of the country.

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The United States Department of Agriculture (USDA) home loan program helps low-income residents in rural areas obtain mortgages at lowered rates without the need for a down payment. The USDA’s Rural Development department offers these loans to eligible buyers in certain rural and suburban areas.

In order to be eligible for many USDA loans, household income must meet certain guidelines. Also, the home to be purchased must be located in an eligible rural area as defined by USDA. To learn more about USDA home loan programs and how to apply for a USDA loan, click on one of the USDA Loan program links above and then select the Loan Program Basics link for the selected program.

Single Family Housing Income Eligibility. Property Location. State:

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