USDA mortgage loans are similar to FHA mortgage loans in many respects. The both require lower down-payments and are easier to qualify for as compared to conventional mortgages. Geography is the biggest restriction for obtaining a USDA mortgage loan. Basically, the property must be located in a "relatively" rural area. Please call us to determine whether a specific address is eligible for USDA.
USDA has a zero down payment requirement and is very accommodative regarding cash to close. Gifts and seller credits (seller assists) are not restrictive. Obtaining a mortgage using a USDA mortgage typically requires very little cash relative to conventional mortgages or even compared to FHA mortgage loans.
USDA does have loan amount and income limits per county. Please call us to determine whether this program is a good fit for you.