Ask your customers who are needing a program with no money down and great interest rates if their lender has the USDA program. 102% purchase program off of the appraised value not always the sales price,with NO MI and great rates. Even people with credit issues have been approved.

Qualify more buyers with this program!

Section 502 loans are primarily used to help low-income individuals or households purchase homes in rural areas. Funds can be used to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Applicants for loans may have an income of up to 115% of the median income for the area. Area income limits for this program do apply. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.  In addition, applicants must have reasonable credit histories.

Ask your lender if they have this program or contact me and I will give you my lender info. 828-442-0034 

Loans are for 30 years.  Interest rate is set by the lender.

There is no required down payment. The lender must also determine repayment feasibility, using ratios of repayment (gross) income to PITI and to total family debt.

 Housing must be modest in size, design, and cost.   Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and HCFP thermal and site standards. New Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards.  Existing manufactured housing will not be guaranteed unless it is already financed with an HCFP direct or guaranteed loan or it is Real Estate Owned (REO) formerly secured by an HCFP direct or guaranteed loan.