The USDA “guaranteed” rural housing program has updated its 100% financing program for homes located in non-urban areas.
USDA sets an income maximum, searchable on their website (where you can also look up property eligibility by address). Recently program terms were simplified so that, in the Charlottesville area, households of up to four persons can make up to $83,750 and still be eligible for this 100%, no-PMI financing.
Funds are currently available for the program; subscribe to the USDA’s “Origination News” to find out about funding levels for the program as well as other updates from the agency.
See this Previous post on USDA 100% financing.
