What’s the advantage of a USDA home loan?

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If I only qualify for a 100k with a conventional loan, am I still going to qualify for the same amount with a usda loan? Is the advantage that I can finance the closing cost and any other cost associated with buying a home and also I don’t need a down payment?

3 comments to What’s the advantage of a USDA home loan?

  • Deliah  says:

    Reality check if you can not pay your closing costs and have nothing for a down payment then you really should not be buying a home until you save up a little money. Those kinds of things are why people are being foreclosed on left and right.

  • Justice B  says:

    Deliah, you’re a crackhead. People are losing their homes to foreclosure because they were allowed to buy homes they knew they could not afford or they have lost their source of income. Just because you don’t have thousands of dollars for a down or closing cost doesn’t mean you cannot afford a mortgage payment. Just be realistic, buy what you can afford. By the way, USDA is a great program for home buyers who cannot buy a home in a conventional matter.

  • Patty D  says:

    USDA loans are 100% loan programs. You will need to talk to your mortgage person because they have very strict guidelines on income and location (rural area).

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