The U.S. Department of Agriculture offers a variety of programs to help low to moderate-income individuals living in small towns or rural areas in Connecticut achieve homeownership. The Rural Housing Service of USDA helps qualifying applicants, who cannot receive credit from other sources, purchase modestly priced homes as their primary residence.
USDA Rural Program Offers Real Perks:
Loan amount based on the appraised value (Regardless of the selling price)
Minimal closing cost
Closing costs can be paid by seller or gifted
No down payment
No monthly Mortgage Insurance
Up to 103.5% LTV if 3.50% guarantee fee is financed
USDA loans can be used toward the purchase of your primary residence.
Existing USDA borrowers can at any time refinance there loans.
Families must be able to pay their monthly mortgage, homeowner's insurance and property taxes.
USDA loans are available in many Counties in Connecticut
Contact us to find out if you qualify for an USDA loan!