What is the USDA Single Family Housing Guaranteed Loan Program?

The US Department of Agriculture created this program back in 1949. This program was designed to work with low and moderate income families living in rural areas to make homeownership a reality. This is apart of the USDA’s initiative to improve the quality of life in rural areas. There are a few requirements to use the program but if you and the area you want to live qualify, you will not have to pay a down payment on your home and you will receive 100% financing.

Who Can Apply:

1. Households with an income that does not exceed 115% of median household income
2. Agree to occupy the dwelling as their primary residence
3. Be a U.S. citizen, U.S. non-citizen national, or Qualified Alien.
4. Be unable to obtain conventional financing with no private mortgage insurance (PMI).
5. Not be suspended or debarred from participation in federal program.

Go to https://www.rd.usda.gov/programs-services/all-programs/single-family-housing-programs for more information!