Did you know that 100% financing is available for home loans through the USDA? These loans are issued through a program known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture. They also offer low rates and affordable payments.
Since properties in Gulf Shores, Orange Beach and much of Baldwin County are eligible for these loans, many buyers are thrilled to discover this zero-down-payment option for their home purchase here. It is one of the most cost-effective home loan products on the market today. Qualification for these loans is easier than for many other types because, in addition to no down payment, potential buyers don’t have to meet a high credit score requirement.
With a credit score of 640 or higher and an approved credit check, you can qualify. Income limits to qualify vary by location and depend on household size. Our professionals at The Henry Group can outline the process and direct you to a mortgage lender offering the USDA program.
Home ownership means so many different things to each buyer out there. It’s the American dream, yes, but it also has some tangible financial benefits. Home owners build equity, so they are building wealth. They enjoy tax benefits. They also enjoy many other advantages ranging from building a strong credit history to having the freedom to express their personal design taste.
With options like USDA’s loan program, home ownership isn’t limited to the wealthy. At The Henry Group, we love working with young families and first-time home buyers as well as investors of all types. Take a look at our listings and see if your dream home is on the market now in Baldwin County. With our years of experience and knowledge of financing options, homeownership can be easier than you think. Let’s get you started on that path today.
Written by The Henry Group