No Downpayment Loan from USDA Rural Housing Service 502 Direct Loan program

USDA and the Rural Housing Service (RHS) has available funds in its Section 502 Direct Loan Program that must be used by September 30, 2015 for buyers that want to live away from the city.  The Washington DC field office reported : “As of August 13, 2015, RHS has enough to fund approximately 2,500 additional home loans.”   

This is a loan for buyers in Non city areas- “rural areas” whose adjusted income does not exceed 80 percent of the area median. There is no down payment requirement and the interest rate are really low. Areas like Warren County, Culpeper,  Orange County, Page County, Rappahanock County, Front Royal and Linden, Virginia should  qualify for this program. Some parts of Fauquier County Catlett, Warrenton and Marshall may qualify. Rural parts of Maryland Counties may also qualify such as North Western Montgomery County, Brunswick to Middletown and Parts of Carroll County, MD.

This is a direct loan program that is different then the Guaranteed loan program. You must apply thru an RHS field office and not thru a mortgage lender for the Direct Loan.  Loan funds may be used to purchase existing homes, to build, repair, renovate or relocate a home, or to purchase and prepare sites, including providing water and sewage facilities.

Contact me if you are interested you have until the end of September 2015 to get started, Contact me and I can help you get started thru a Rural Housing field office lender and check to see if you meet the income criteria.  GreatDCMetroHomes.com

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About djonesrealestate

Contact me for all you real estate buying and selling needs in VA, DC, and MD. Need to find an agent in a different city- contact me and I can also help you relocate Nationwide! Let me give you the Red Carpet Treatment! I have been a Real Estate agent since 1996 previously licensed in California and Illinois, and currently licensed in Virginia, Maryland, and Washington DC. I am a mother of three and a Navy spouse, as your agent I am committed to exceeding your expectations. Whether you are a first time home buyer or some one who has bought and sold several homes I offer all my clients the benefits of professional customer service, industry experience, and innovative marketing. If you work with a church or non-profit group and would like me to host a home buying course. Please feel free to contact me! DeAndrea Dee Dee Jones Principal Broker DC, MD Realtor VA Home Buyers Marketing II, Inc HBM2, Inc. DJonesRealEstate.com

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