I remember this time last year we were in a panic because the USDA had run out of funds for USDA 100% financing and some of my buyers had to find alternative loans or put their home search on hold. This is one of the few 100% finance programs still available in our area other than some of the Credit Union programs and many buyers have taken advantage of this. With seller paid closing costs, the buyer can still get into a home will little out of pocket (now we will not debate whether that is a good thing or a bad thing – it could go both ways).
This year it is a different story all together…. The USDA has billions of dollars to spend on this program in the next couple of months and we have plenty of homes in rural areas that will qualify. This program is easy to use and closes fairly quickly. So what more could you ask for – 100% financing, low interest rates and plenty of inventory… seems like a great reason to get off the couch this fall!