The USDA Mortgage: One of the Few No Money Down Mortgages

Consumer financial experts advise people to save up for a down payment on large purchases such as a car or home. The rule of thumb is to have at least 10% of the purchase price saved up in order to pay down the amount and get better financing. However, buying a house, and maintaining the property, can get expensive. Saving up $15,000 for a down payment, plus an extra $2,000 to $3,000 for improvements or a rainy day fund can really take some time. What if there was a way to save up AND get a home without a down payment? Thanks to USDA Rural Housing, that can be a reality.

100% Financing

The mortgage offered by the United States Department of Agriculture (USDA) allows borrowers to get a loan up to 100% of the appraised value of a home. This means no down payment.

The loan will also allow the seller to pay the necessary closing costs. This could mean no out of pocket costs for the borrower.

Huge Benefit for the Borrower

This means that a borrower can save up $4,000 to $5,000 in anticipation of their mortgage purchase and still have their fund intact when the purchase is complete. This gives the borrower a cushion to protect them in case of some emergency such as a major repair on their car or a sudden out of town travel to care for a loved one.

USDA loans are available all across the country. Ask your lender about the specific locations in your area that qualify for the financing and take advantage of this great mortgage.

For additional information, including ineligible areas and income limits, see our USDA Rural Housing page. To see if you qualify, contact us below or apply online!

  • Contact us for more information
    (877) 240-5810
  • Fill out the form and a member of our team will contact you within 24 hours.
  • We will only use this contact information for a one-time consultation unless you request otherwise. Privacy Policy.
  • This field is for validation purposes and should be left unchanged.
Filed under: Uncategorized

Luke Skar

Luke Skar is the web developer and content strategist for Inlanta Mortgage in Madison, serving Wisconsin, Illinois, Minnesota and Florida. Guided by his 12-plus years of various mortgage marketing experience, Luke provides top-quality SEO services, effective social media management, and web development and maintenance. Luke’s career in the mortgage industry began back in 2001, as a loan processor. After becoming a loan officer for a number of years, Luke is now the sole owner/operator of To ensure that all the information he posts is fresh, accurate, and up-to-date, Luke relies on the knowledge which his years of dedication to keeping up with the constant change that the mortgage industry provides.


Loading Facebook Comments ...

Leave a Reply

Your email address will not be published. Required fields are marked *