USDA Rural loans – Zero down payment – California only

USDA Rural loans – “0” Zero Down payment purchase loans are available from a minimum 580 fico score for the purchase of homes in USDA eligible areas. Check USDA property eligibility of a property address below.

Don’t worry we offer DAP’s, Down Payment Assistance Programs for the areas that are outside of the USDA Rural areas so we have you covered.

Then choose Single Family Housing Guaranteed, then Accept, input an address

INCOME ELIGIBILITY

USDA zero down brochure

Loan Application

  • New Construction – loans can be used for new construction in rural areas, including the purchase of new manufactured homes and can also include the purchase of an adequate homesite
  • Existing Homes – Loans can be used for the purchase of existing homes in rural areas
  • No Down Payment Requirement
  • Loans may include closing costs, guarantee fee, legal fees, title service, cost of establishing an escrow
  • account, and other prepaid items
  • No monthly mortgage insurance premium
  • 30-year fixed rate at market interest rates
  • No maximum loan amount
  • Refinancing of Direct and Guaranteed USDA Rural Development housing loans allowed
  • Guarantee fee may be tax deductible

MINIMUM 580 FICO SCORE REQUIREMENT TO QUALIFY (Under 580, ask about credit repair advice services at no cost?)

Guranteed Rural Housing Loan Programs

USDA Rural Development gurantees home loans made by banks, savings and loans, mortgage companies and oher approved lending institutions. Funds can be used to build, purchase existing dwellings, repair, or purchase and repair sites, including providing water and sewage facilities.

USDA Rural for many out of City Limit areas.
 Zero Down and Minimal mortgage insurance.
 M.I. factor is .40% of the loan amount.

This is the Loan processing needs list for processing a loan approval, DU Approval or pre-approval letter.

CALL TO QUALIFY IN MINUTES FOR THE LOAN PROGRAM TO FIT YOUR NEEDS THE BEST FINANCIALLY.       760-486-4225