USDA Rural Development Loans MN : Zero Down, 100% Financing USDA Home Loan from USDA Rural Development.
USDA Home Loan
The USDA Home Loan is a popular option for home buyers desiring 100% Financing.
USDA Rural Development assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas.
- 580-640 Minimum Credit
- Multiple derogatory marks on credit report will make it difficult to become approved for the loan.
- 0% Down Payment
- 1% Upfront Mortgage Insurance; .35% Annual
- Applicants Must:
- Meet income-eligibility.
- Agree to personally occupy the dwelling as their primary residence.
- Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien.
- Must be at least 18 years of age.
- Have the legal capacity to incur the loan obligation.
- Have not been suspended or debarred from participation in federal programs.
- Demonstrate the willingness to meet credit obligations in a timely manner.
- Purchase a property that meets all program criteria.
- Property cannot be luxurious.
The map below shows how the shaded areas are the places where a Rural Development home loans are not available. The majority of the United States has this Zero Down loan option available to them!
Rural Development Loans MN
Taking a closer look into rural development loans mn : a USDA Home Loan MN , you can see from the map below that the twin cities metro area, as well as the larger cities, are ineligible for a USDA mortgage, but the majority of MN is eligible for a 100% financing, Zero Down USDA Rural Development MN loan:
USDA Home Loan MN
USDA Eligibility (This loan program is also known as Section 502 Direct Loan Program) is dependent on being in a USDA Rural Development area. We offer Rural Development loans MN.
Contact us with any questions or to get your mortgage pre-approval for a USDA rural housing loan.