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.
 

Buy a Home in Buckeye for No Money Down with a USDA Home Loan!

Many people opt-out of city life, settling down in quaint little suburbs and rural towns. Low- to middle-income families who choose to do this get one big benefit—the no money down USDA home loan. Right outside of Avondale, Goodyear and Litchfield Park, properties qualify for the USDA home loan. The whole area of Buckeye, AZ is eligible. The mortgage program boasts some of the best benefits out of all home loan programs.

  • $0 Down
  • Low Interest Rates
  • Small Guarantee Fee Rolled into the Loan Amount
  • 100% Financing
  • Use Gifted Funds
  • No Mortgage Insurance (a small annual fee of .03%)
  • No Cash Reserves Required
  • Lenient Credit Standards
  • Lowest Foreclosure Rate of All Government Loan Programs

The USDA’s guaranteed home loan program is developing rural towns all over the country, boosting the economy and creating more sustainable lifestyles. At first, the program was geared towards farmers. However, the Department quickly realized that moving in regular families with limited opportunities for work in the cities would benefit rural and suburban areas. Now, the perception of rural areas has changed. People relocating to rural areas are living healthier, more sustainable and active lifestyles. They recognize the importance of nature, local food and efficiency. They also save a ton of money in comparison to city dwellers!

Applying and Qualifying

An applicant will need…

  1. Good credit (620 score and above)
  2. 29/41 debt-to-income ratio. You can calculate your ratio through Transunion online.
  3. Meet income eligibility requirements for the area in which you will buy the home.
  4. Be interested in a home with a population 25,000 or less. Some USDA approved areas are right outside major metropolitans, so you do not have to give up city-living completely.
  5. All homes under the program must pass an appraisal and the USDA gives incentives for energy-efficient homes, resulting in lower utility bills.

West Valley Home Team Realtor®, Cinda Rose, can help you find your perfect rural home within Buckeye or outside of Avondale.

If you have any more questions about the loan, be sure to speak with our USDA loan experts as well.

Jasmine Reese is a rural home loan writer for USDA loans.com, a company devoted to rural and suburban development through lending.