THE USDA Guaranteed Rural Housing Loan Program
Guranteed Rural Housing Loan Program's mission is to assist low-to-moderate income, rural home buyers achieve thier dream of homeownership.
Prosperity Home Mortgage, LLC and the USDA Rural Development have partnered to extend 100% financing opportunities to eligible rural individuals and families for the purchase of safe and sanitary dwellings. As an approved lender, Prosperity Home Mortgage, LLC offers this financing option and can help applicants purchase a home with affordable interest rates and loan terms.1
Budget-friendly benefits — No minimum down payment or cash reserve requirements; closing costs and fees may be financed as part of the loan amount up to 100% of the appraised value.2
Contributions allowed — Interested party contributions up to 6%; gifts and grants are permitted
Built-in resale advantage — Loans are assumable, with Rural Development (RD) approval, giving
qualified future buyers an option to take over your existing interest
Download in printable format here
To apply for a USDA Loan:
No or low down payment options may not be the best product for all borrowers. Please consult your mortgage consultant to discuss your financing options.
Information is accurate as of date of printing and subject to change without notice.
1. Eligible only for single family, primary residences purchased within the eligible rural areas as defined by the USDA. Credit is subject to approval. Property location, asset and income restrictions apply, and home buyer education may be required.
2. A guarantee fee is charged and collected at the time of closing and can be paid by the buyer or seller, or financed. Loan amounts may exceed the appraised value of the property (e.g. >100% LTV) to include the amount of a financed guarantee fee. This applies only to loans for which all or a portion of the guarantee fee is being financed into the loan.
All first mortgage products are provided by Prosperity Home Mortgage, LLC. (877) 275-1762. Prosperity Home Mortgage, LLC products may not be available in all areas. Not all borrowers will qualify. Licensed by the NJ Department of Banking and Insurance. Licensed by the Delaware State Bank Commissioner. Also licensed in District of Columbia, Georgia, Maryland, North Carolina, Pennsylvania, South Carolina, Tennessee, Virginia, and West Virginia. NMLS ID #75164 (NMLS Consumer Access at http://www.nmlsconsumeraccess.org/). © 2016 Prosperity Home Mortgage, LLC. All Rights Reserved.