Home loans backed by the United States Department of Agriculture (USDA) means owning a home outside of city limits may be easier than you thought with USDA home financing from Fairway Independent Mortgage Corporation. A USDA/Rural Development home loans can provide affordable financing options for properties located in designated small towns, suburbs and exurbs, and for salaried, non-salaried and self-employed borrowers. It is not limited to first-time home buyers. This program helps eligible low- to moderate-income families achieve home ownership by offering a no down payment option.
- 100% financing + required guarantee fee = 102% of the appraised value
- Low FICO requirements
- Primary residence only
- 30-year, fixed-rate
- Gift funds allowed for closing costs
- New construction financing options available