Nov. 25, 2010

USDA Rural Development Offers No Money Down Home Loans

Do you think you qualify to buy a home, that is you have good credit and a good job, but no money for a down payment. Well you may qualify for Zero Down Home Loan offered through the USDA Rural Development Zero Down Home Loan Program.

Yes that means you may be eligible to buy a home with no down payment and without having to pay the monthly private mortgage insurance premium normally associated with low down payment loans.

There are three qualifiers this program.

  1. The home is to be located in the USDA eligible area, and that is all of Whatcom County outside of Bellingham. (As you can see from the map to chart area is the part of Bellingham not eligible, but there are some areas in the Geneva neighborhood that would be eligible.)
  2. There are some income limits, for example a family of four would be limited to an income of 74,050
  3. You need a credit score greater than 620 or better.

There are many local lenders who can help you with this program and see if you qualify, if you'd like some help finding one please let me know. If you'd like to start looking for a home you can buy with no money down please give me a call at 360-739-6981.

If you'd like any information or want to see any Bellingham Real Estate feel free to email me at or give me a call at 360-739-6981

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