Buy a Home with NO MONEY DOWN using the USDA Rural Development Program in Chehalis/Centralia
Are you thinking about buying your next home, but don’t have any money down? Did you know that you can buy a house with no money down using the USDA Rural Development Program? It’s true! Keep reading below for more details!
Before going any further, lets discuss a little bit about who qualifies.
- Income limit of $74,900 for a family of 4 or
- Must be able to afford mortgage payments
including taxes and insurance
- Reasonable Credit Histories (usually 620 or
- You must be in an eligible area.
- Loan Application
- Pay Stubs last two months
- W-2s for last two years
- Bank statement for last two months
- Other items required by lender
- Cannot be sub-dividable
- Cannot have “farm buildings” or any other buildings that could be used to generate income
- Must have adequate water and wastewater systems
- Cannot have any pools
- Must be functionally adequate
- Must be in good repair
- Cannot be in flood plain (not 100% accurate, but a good rule of thumb since only a small percentage of properties would actually qualify in a flood plain)
- Cannot be manufactured (again, not 100% accurate for similar reasons as above)
- Must be owner-occupied