Please Note: Update: USDA loans are still available, however the area of eligibility has changed. Most of Buckeye is no longer included in the eligible area. Visit the USDA site to see the eligibility map for Arizona. You can also type in an address to see if the property is in an eligible area: USDA Website.
There are other low down loan programs available that you may qualify for. Contact cinda@wvhometeam.com to learn more.
100% financing for the purchase of your new home may be available through the USDA Rural Development’s Single Family Housing Guaranteed Loan Program (SFHGLP).
Program highlights:
- Loan amounts to 100% of the property’s sales price
- Competitive 30-year fixed rates
- Flexible credit guidelines and qualifying ratios
- Closing cost assistance is acceptable. Sources may include gift funds, grants, & seller contributions
- Not limited to first time homebuyers
- Funds available on a first-come, first-served basis
Eligibility requirements:
- Home must be located in an eligible rural area, as designated by USDA
- Principal residences only. Applicants may not own any other property, with the exception of a current principal residence that will be sold prior to close of new home
- Household income may not exceed the adjusted income limit for the area
- Must show stable and dependable income for repayment ability. Credit history must indicate a willingness to meet obligations as they become due
- Must be a US citizen, permanent resident, or qualified alien
- Requires an upfront and annual guarantee fee. The upfront guarantee may be financed into the loan, allowing for loan amounts above 100% of sales price
