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16628 NW 192ND Terrace, High Springs, FL 32643

No Money Down Financing Options

There are several financing options that allow for a buyer to purchase a home with no down payment. These include VA financing for Service Members, Veterans, and eligible surviving spouses and the USDA Rural Housing Program for homes in rural areas and small towns.

The VA home loan program helps Service Members, Veterans, and eligible surviving spouses become homeowners. The VA provides a home loan guaranty benefit and other housing-related programs to help you buy, build, repair, retain, or adapt a home for your own personal occupancy. VA Home Loans are provided by private lenders, such as banks and mortgage companies. The VA guarantees a portion of the loan, enabling the lender to provide you with more favorable terms. In order to qualify for a VA loan you will need to supply to your lender a DD214 or proof of eligibility. Your Horizon Realtor can provide you with a list of local lenders or direct you to www.USAA.com.

The USDA Rural Home loan programs are restricted to rural areas and small towns but many of the areas that Horizon Realty services are eligible. This program can be used to buy new construction as well as existing homes. It is a true 0% down program. While there are closing cost associated with all loans, the USDA program also allows the seller to contribute if they are willing to help defray some of those closing cost. The interest rate on these rural home loans is very competitive with FHA and conventional financing options. There are income limitations that vary from area to area and by family size. Your Horizon Realtor can assist you with these guidelines.