Assistance Program Search

USDA Guaranteed Loan

Program Overview

USDA Guaranteed Loan is a loan that provides 100% financing with no private mortgage insurance. Applicants must qualify for a 30-year fixed rate loan through a mortgage lender. This assistance is available to applicants residing in all towns less than 10,000 population and most towns less than 20,000 population.

Who is eligible for this program?

Borrowers must qualify for the loan through a mortgage lender and pay a 2% guarantee fee at closing. Borrowers with moderate income may qualify. Updated area loan limits are listed at http://www.rurdev.usda.gov/rhs/sfh/area%20loan%20limit%20pdf%20files/MT.pdf Is this program for first time buyers only? No

Property Eligibility Requirements

This assistance is available to applicants residing in all towns less than 10,000 population and most towns less than 20,000 population. Allowable property types: Single family home, duplex, condo, manufactured home

Benefit Details

Benefit: Borrowers qualify for 100% financing and pay no private mortgage insurance. Loan Term: 30 years Homebuyer Counseling / Education Required: No Owner Occupancy Required: Yes

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