- State and Local Housing Programs:
- Many state, county and local government programs offer financing for qualifying low-to-moderate income families wishing to purchase their home. Loan programs like the USDA loan have many benefits for those wanting to purchase a primary residence.
This program typically offers:
- More relaxed qualifying guidelines. Only 3 tradelines required.
- NO upfront fees (only pay for the appraisal)money usually returned at closing
- The seller can pay 6% of costs
- 100% financing. No down payment needed.
- Lower interest rate
- Fixed rate 30 year term