USDA Rural Development and YOU
Now you are probably wondering what USDA has to do with a home loan? Well USDA offers a very special mortgage program that allows 100% FINANCING, NO DOWNPAYMENT OPTIONS. Guaranty Trust is one of the top lenders for Rural Development Home Loans in the Great State of Tennessee!
Program Highlights Include:
• 100% Financing
• Low Monthly Mortgage Insurance Premiums
• Seller Can Pay All Closing Costs
• Great Interest Rates
• Flexible Credit Qualifying (No Credit Scores Accepted)
• 30 Year Fixed Rates
• Generous Income Limits
• First Time Homebuyers Welcome
USDA loans are also know as Rural Development (RD) and in the past have been called FMHA (Farmers Home Loans), so you might be thinking that to be eligible for an RD loan you must live on a farm or in a remote area. This is a common misconception, when in actuality many of the most populous counties have designated rural development areas. Davidson, Rutherford, Wilson, and Sumner counties all contain areas that are eligible for 100% financing. Counties such as Cheatham, Cannon, and Bedford are 100 percent eligible.
Rural Development loans have income limits but over the years, the income limits have been banded based on household size and allow for many more clients to qualify!
Call one of our Home Loan Experts today for more information on USDA Rural Development Loans.
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