Waverly, IA

USDA Rural Development Loans

100% No Money Down

Efforts to strengthen the economy of rural communities in Iowa include the USDA Guaranteed Housing Loan, which provides 100% financing for borrowers in towns with populations of 10,000 or less. This loan is available for borrowers to purchase a home as their primary residence. This 30 year fixed rate mortgage is available to families whose income does not exceed 115% of median income for their county or MSA. There is a 2% funding fee which is financed into the loan, and there is NO monthly mortgage insurance required!

Rural Development Income Limits (IOWA)

By Number of Occupants Who Will Live In The Dwelling

County, IA

1 Person

2 Person

3 Person

4 Person

5 Person

6 Person

Benton

$49,550

$56,600

$63,700

$70,750

$76,400

$82,050

Bremer

$49,550

$56,600

$63,700

$70,750

$76,400

$82,050

Buchanan

$49,550

$56,600

$63,700

$70,750

$76,400

$82,050

Fayette

$49,550

$56,600

$63,700

$70,750

$76,400

$82,050

Grundy

$49,550

$56,600

$63,700

$70,750

$76,400

$82,050

Hardin

$49,550

$56,600

$63,700

$70,750

$76,400

$82,050

Tama

$49,550

$56,600

$63,700

$70,750

$76,400

$82,050

Rural Development Highlights

Minimum 620 Credit Score

No Monthly Mortgage Insurance Premium (PMI)

Up to 6% Seller Concessions

100% Financing/No Money Down