USDA GUARANTEED RURAL HOUSING LOAN

This loan is very similar to a Va Loan. It is government back by the Dept of Agriculture designed to provide finacing to rural areas. Borrowers can finance 100% of the purchase price and can roll in closing costs to 100% of the appraised value. There is no monthly PMI which helps keeps payments down. Program offers 15 or 30 year financing with fixed rates and no prepayemtn penalties.

For information regarding eligible areas check out this site. http://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do