USDA 502 guaranteed and Direct Loan programs are fully funded and ready to serve your buyers
This year USDA has invested over $370,000,000 in Oregon’s rural housing communities. The demand for the program has never been greater. USDA is excited to announce that all of its single family housing programs are fully funded and ready to serve you and your clients. The 502 Direct Loan is an incredible program that targets low and very low income borrowers. USDA is offering 100% financing, 1% interest rates, 38 year loan terms, no mortgage insurance and no minimum credit score. To learn more about USDA's other housing products such as Guaranteed loans offered through approved banks and mortgage brokers, and 504 Repair Grants and loans, please view this downloadable flyer.
This year USDA has invested over $370,000,000 in Oregon’s rural housing communities. The demand for the program has never been greater. USDA is excited to announce that all of its single family housing programs are fully funded and ready to serve you and your clients. The 502 Direct Loan is an incredible program that targets low and very low income borrowers. USDA is offering 100% financing, 1% interest rates, 38 year loan terms, no mortgage insurance and no minimum credit score. To learn more about USDA's other housing products such as Guaranteed loans offered through approved banks and mortgage brokers, and 504 Repair Grants and loans, please view this downloadable flyer. What this means: USDA 100% financing was so popular that it ran out of funds early in 2010. Now that those funds have been replaced, the buyer community will now have a viable option for purchasing rural land, homes in smaller communities (like Sherwood, Newberg, Cornelius, etc). This also applies to manufactured housing and new construction with allowances for seller contributions making buying a home with no money down possible.
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