For eligible rural homebuyers, the USDA Guaranteed Rural Housing Loan Program provides a path to homeownership with no down payment required. Designed to assist low to moderate-income buyers, USDA loans offer affordable financing options with flexible terms.
Why Choose a USDA Loan?
As an approved USDA lender, we help qualified borrowers secure low-interest loans with favorable repayment terms, making homeownership more accessible.
Key Features of USDA Loans:
✔ Zero Down Payment – No minimum down payment or cash reserve requirements. Closing costs and fees may be rolled into the loan amount (up to 100% of the home’s appraised value).
✔ Flexible Funding Options – Seller contributions (up to 6%), as well as gift and grant funds, can be used toward closing costs.
✔ Resale Benefits – USDA loans are assumable, meaning future buyers can take over the existing interest rate, making your home more attractive to potential buyers.
Is a USDA Loan Right for You?
While no or low down payment options can be beneficial, they may not be ideal for every borrower. Speak with a mortgage consultant to explore all available financing solutions.
Eligibility Requirements:
- Must be purchasing a single-family primary residence in a USDA-designated rural area.
- Borrowers must meet income and credit qualifications.
- Some homebuyer education may be required.
Additional Costs:
A guarantee fee applies at closing and may be paid by the buyer or seller, or rolled into the loan. This may result in a loan amount exceeding 100% loan-to-value (LTV) in some cases.
* Prosperity Home Mortgage, LLC is not affiliated with or endorsed by any government agencies.
