January 17th, 2019 1:02 PM by Nathan Rufty
USDA loan is a no down payment mortgage option available to homebuyers in the Brawley CA who are looking to purchase a home in a qualified rural or suburban area. United States Department of Agriculture (USDA) loans are issued by private lenders and guaranteed by the U.S. Department of Agriculture (USDA). The USDA home loan’s purpose is to provide affordable homeownership opportunities to low-to-moderate income households to stimulate economic growth in rural and suburban communities throughout the United States.
Also known as the Section 502 Direct Loan Program, this program assists low- and very-low-income applicants obtain decent, safe and sanitary housing in eligible rural areas by providing payment assistance to increase an applicant’s repayment ability. Payment assistance is a type of subsidy that reduces the mortgage payment for a short time. The amount of assistance is determined by the adjusted family income.
Nathan Rufty is a loan officer that specializes in USDA Home Loans Brawley CA, for a free consultation please call him at: 909-503-5600