The other No Down Payment Loan
Most people are familiar with the idea that a veteran can borrow to buy a home with no money down. That’s amazing, but only if you’re a veteran right? Did you know that there are other ways to buy a home in San Diego with Zero Down?
One of the more underutilized programs focuses on helping folks buy in Rural Areas. This program is backed by the government. We say this because it’s not a loan FROM the government, but rather guaranteed by the government. In this way, you get a regular loan without having to work with the government directly (whew!).
So what’s the catch… well, there are some qualification requirements. Two qualifiers are income and where the property is located. The properties are designated by their address and what is considered to be Rural. The income qualifications limit how much you make based on how many people live in the home – just like some other First Time Home Buyer Programs.
If you’d like to learn more about this program, the income limits, or the areas covered click here to send me an email. I’ll send you some charts that will help us determine if this program is right for you.
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