The USDA Home Loan in Colorado is an under-utilized program designed to help buyers purchase homes in small towns, rural areas, and even the outskirts of front range cities with 100% financing assistance. The program offers low mortgage insurance and the ability to refinance similar to any other option.
There is a misconception that this loan is for properties that are on farms or ranches, but the opposite is true. USDA Home Loans can only be given for properties that are not revenue producing. Another things to keep in mind are that there is an income limit that is set by the county in which the home is in and the property cannot be a manufactured home.
– No down payment option
– No cash reserves required
– Flexible credit and qualifying guidelines
– Low fixed interest rate
– Low mortgage insurance
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