Am I eligible for…
A steak? Yes! A loan… perhaps.
Most people associate USDA with food. You may recognize these 4 letters from the labeling on the meat and veggies you purchase for your family. This is one facet of the USDA. It also pertains to housing. If you qualify, you can purchase a home with little to no money down!
USDA loans are offered by the USDA, and they allow you to purchase, refinance, renovate, repair or even relocate a home. The program hasn’t been around forever, though. It began in 1991 in an effort to boost home ownership in rural areas.
Unlike conventional mortgages, there’s no down payment required – the loan can even cover closing costs, if the seller doesn’t.