The Department of Agriculture provides low-interest, no-down-payment loans to farmers and other qualified borrowers with low to moderate incomes buying property in rural areas or small towns who are unable to obtain loans elsewhere.
Benefits & Eligibility
- No down payment & No cash reserve requirement
- Fully amortizing 30-year fixed rate loan
- No first time homebuyer requirement
- Loan amount can include closing costs and repairs, up to appraised value
- No seller contribution limit
- New and existing homes are eligible
Window of Opportunity for Jumbo Borrowers
To simplify the reason why let’s put it this way: jumbo borrowers are generally very safe, and loans to them are a profitable bet for large banking institutions. These large banks want as many Jumbo borrowers and loans as possible. The result is a very competitive market for jumbo loans at the current time.
Condos: A Solid Step Into Homeownership
Before you dive in feet first, get a basic understanding of how condominium ownership differs from owning a single-family home or a townhome.
Feel free to contact us with any questions you may have regarding these loan products.
908-516-2190 | Contact Us
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Loans are subject to credit and property approval. Other limitations may apply and not all products are available in every state. Availability of programs is subject to change without notice. Please contact me for more information.