Goodyear Real Estate: Zero Down USDA Rural Housing Program
Rural housing loans are back! They disappeared for awhile when the program ran out of money, but new legislation has brought the loan program back. With no down payment requirement, no cash reserves requirement and no monthly mortgage insurance, this loan program is perfect for anyone who is looking to purchase a new home.
Other advantages of rural housing loans are an allowable seller concession up to 6%, no pre-payment penalty, and a 30 year loan term. The property must be purchased as a primary residence and first time home buyers qualify for this program. If you are looking to purchase a home while prices are low, this may be the loan for you. Talk to a mortgage professional to determine if you qualify.
Not all Goodyear homes qualify for the rural housing program, however. To determine if a specific property is in an eligible rural area, send me a message at cinda.rose@thewestvalleyhometeam.com or give me a call at 623-252-9350.
