USDA

Would you like a zero down program? USDA offers it. See map it only applies to certain areas ie none of the shaded area. But Justin and parts of Keller and Trophy Club. See below from their website. usda map

 

Welcome to the USDA Income and Property Eligibility Site
This site is used to determine eligibility for certain USDA home loan programs and the USDA Satellite Grant Program. In order to be eligible for many USDA loans, household income must meet certain guidelines. Also, the home to be purchased or served must be located in an eligible rural area as defined by USDA.

To learn more about a USDA home loan program, click on the Loan Program Basics link on the left side of this screen and select one of USDA’s home loan programs.

To determine if a property is located in an eligible rural area, click on the Property Eligibility link on the left side of the screen and select a Rural Development program. When you select a Rural Development program, you will be directed to the appropriate property eligibility screen for the Rural Development loan program you selected.

To determine income eligibility of an applicant/household, click on the Income Eligibility link on the left side of the screen and select a Rural Development program. When you select a Rural Development program, you will be directed to the appropriate income eligibility screen for the Rural Development loan program you selected.

To determine if a property is eligible to receive discounted satellite service under the Satellite Grant Program, click on the Satellite Grant Program link on the left side of the screen to view a map. You will be able to find your address on the map to determine if you meet the eligibility requirements of this program.

To find out how to apply for a Rural Development Loan, click on the Contact Us link on the left side of the screen to view a map. Use the map to determine the eligibility of your address.

Welcome to the USDA Income and Property Eligibility Site
This site is used to determine eligibility for certain USDA home loan programs and the USDA Satellite Grant Program. In order to be eligible for many USDA loans, household income must meet certain guidelines. Also, the home to be purchased or served must be located in an eligible rural area as defined by USDA.

To learn more about a USDA home loan program, click on the Loan Program Basics link on the left side of this screen and select one of USDA’s home loan programs.

To determine if a property is located in an eligible rural area, click on the Property Eligibility link on the left side of the screen and select a Rural Development program. When you select a Rural Development program, you will be directed to the appropriate property eligibility screen for the Rural Development loan program you selected.

To determine income eligibility of an applicant/household, click on the Income Eligibility link on the left side of the screen and select a Rural Development program. When you select a Rural Development program, you will be directed to the appropriate income eligibility screen for the Rural Development loan program you selected.

To determine if a property is eligible to receive discounted satellite service under the Satellite Grant Program, click on the Satellite Grant Program link on the left side of the screen to view a map. You will be able to find your address on the map to determine if you meet the eligibility requirements of this program.

To find out how to apply for a Rural Development Loan, click on the Contact Us link on the left side of the screen to view a map. Use the map to determine the eligibility of your address.

Terms: Loans are for 30 years.  The promissory note interest rate is set by the lender.

There is no required down payment. The lender must also determine repayment feasibility, using ratios of repayment (gross) income to PITI and to total family debt.

Standards: Under the Section 502 program, housing must be modest in size, design, and cost.   Houses constructed, purchased, or rehabilitated must meet the voluntary national model building code adopted by the state and HCFP thermal and site standards. New Manufactured housing must be permanently installed and meet the HUD Manufactured Housing Construction and Safety Standards and HCFP thermal and site standards.  Existing manufactured housing will not be guaranteed unless it is already financed with an HCFP direct or guaranteed loan or it is Real Estate Owned (REO) formerly secured by an HCFP direct or guaranteed loan.

Approval: Rural Development officials have the authority to approve most Section 502 loan guarantee requests.

Basic Instruction:7 CFR Part 1980.

About Nathan Neely

Nathan Neely is ranked in the top 1% of all agents on Trulia! Here is his quote: "My name is Nathan Neely, and I have been putting smiles on people's faces by finding the perfect home for over ten years. The best part of my job arrives each time I hand over the keys to an excited buyer, and this huge smile and glimmer in his/her eyes appears."

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