Guaranteed Rural Housing ( GRH ) Loan Program

If you are needing a 100% Mortgage, take a look at Rural Housing loans. The GRH program works well for many Americans and they use a common sense approach to lending.

30 year fixed rate

Loans can be 100 plus loan to value ( the fee financed can exceed the value )

No down payment required

For Moderate income households ( up to 115% of the county or national median income )

Closing cost can be included in the loan

No limit on seller contribution by USDA rural development

Eliminates requirements for private mortgage insurance

Can be used for new or existing properties

Guarantee fee of 2% of loan amount due after closing

Qualifies for community reinvestment act credit

http://www.rurdev.usda.gov/