USDA Home Loans – Low down payments

Single Family Housing Guaranteed Loan Program

  • Property must be located in an eligible area
  • Must meet income-eligibility requirements, 115% of area median income
  • minimum credit score of 620 as of June 2017
  • must occupy the dwelling as your primary residence
  • U.S. Citizen, U.S. non-citizen national or Qualified Alien
  • Have the legal capacity to incur the loan obligation
  • Have not been suspended or debarred from participation in federal programs
  • Demonstrate the willingness to meet credit obligations in a timely manner
  • Property purchase must meet all program criteria

CLICK HERE for a list of approved lenders.

As of June 2017, most of San Carlos Park is eligible for zero down USDA loans for those who qualify

Borrowers who have never used traditional credit, may be eligible by providing 4 non-traditional sources of payment history such as:

  • Rental payments
  • Utility payments
  • Insurance payments
  • Service agreements such as cell phone payments

Sources: USDA; Tim Lucas,

HUD Good Neighbor Next Door

CLICK HERE for more info on Good Neighbor Next Door Program