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down payment assistance home

Down Payment Assistance

The government is using its own funds to cover your down payment and closing costs. Find Out More

Your Community Lending Mortgage Expert can verify if your area qualifies for USDA’s no down payment option.

For homebuyers with low to moderate incomes, this may open the door to purchasing a new or existing home in eligible areas. With USDA, you can finance some of the closing costs and utilize gift or grant funds or seller contributions. You don’t need to be a first-time homebuyer, and if you have past credit challenges, you still may be eligible. We’ll be happy to review your eligibility to determine if this is the right home loan for you. Let’s see if you meet the criteria. USDA home loans have helped many become homeowners!

  • >>   30-year fixed loan with no money down
  • >>   No loan amount price limits – borrowers loan qualifying limit is based on the income/debt
  • >>   Low fixed interest rates (USDA interest rates are  very similar to FHA or VA Mortgage rates)
  • >>   Flexible credit guidelines – 620 credit score needed
  • >>   Income limits are around the average income of the area, so many will qualify
  • >>   There is no recapture fee (no penalty for selling the house)
  • >>   USDA closing costs can be paid by the home seller, and/or added to the borrowers loan amount with a satisfactory appraisal.
  • >>   The home being purchased can be any single family home, condo or town house located in a USDA approved location. No other special designations needed.

Why Community Lending ?

Our clients deserve our best efforts as well as our respect and courtesy. It is our goal to provide the best customer experience in the industry. We work towards that goal by treating clients honestly, fairly, answering questions as rapidly and thoroughly as possible, and learning the exact needs of our individual clients. With our dedication, comes our commitment which we are proud to stand behind.