State and Local Housing Programs USDA

State and Local Housing Programs USDA:
Many state, county and local government programs offer financing for qualifying low-to-moderate income families wishing to purchase their  home. State and Local Housing Programs USDA  programs have many benefits for those wanting to purchase a primary residence. This loan is based on the population of the area and requires no down payment from the buyer. Usually the seller is allowed to contribute 6% toward the buyer’s closing costs, just like an FHA loan.


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