Yes! . . . and it is not a gimmick, nor is it VA.

It is a little known federal program called USDA Rural Development.

Unlike most loans, a USDA-RD loan is unique in that the property itself is the primary qualifier, not the home buyer. Oh, you must definitely have a decent credit score and debt to income ratio (things better discussed with a lender), and there are some income limitations. BUT it is the location and condition of the property that makes it eligible for a Rural Development loan.

As most homebuyers already know, an FHA loan requires a 3-1/2% down payment, and conventional loans 10%-20%. But for a homebuyer with good credit, an RD loan offers a terrific opportunity to buy your very own home with little more than the cost of a home inspection and closing costs.

Another advantage to an RD loan is that, unlike FHA, there is no PMI (Private Mortgage Insurance) added to the monthly payments. PMI is an add-on charge to insure the loan until the borrower has paid off at least 20% of the loan. Eliminating this cost holds down the monthly payment.

So if you would like to know if you qualify for this program, call me. I can put you in touch with lenders who can help you get pre-approved, and then we can go home shopping!

JoyceAlbert@att.net