The website for the USDA Rural Development Guaranteed Housing Program is:

http://www.usda.gov/wps/portal/usdahome

For income eligibility requirements:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do

For geographical area eligibility:
http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do?pageAction=sfp&NavKey=property@11

RURAL DEVELOPMENT FINANCING

502 Guaranteed Rural Housing Loan – USDA

*No Down Payment
*No Mortgage Insurance
*No Cash Reserves Required
*No Loan Limits
*No First Time Homebuyer Requirement
*New and Existing Homes
*Fixed Rate Financing
*No Seller Contribution Limit
*Loan Amount Can Include Closing Costs & Repairs
*Available In Many Areas
*No Acerage Limitations

Rural Development (RD) financing is perhaps the most misunderstood home financing offered in the United States today. It however provides probably the best terms for home financing available. Best of all, this loan features the NO MONEY DOWN option. A “Common Sense” underwriting process.

Up to 102% LTV of the APPRAISED VALUE…AND any difference between contract sales price and appraised value may be used by the borrower to pay closing costs, pre-paids or repairs. The 2% Guarantee Fee charged by USDA can be added above the appraised value (financed).