3 Reasons USDA Rural Development Works for a First Home Mortgage

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Buying your very first house and financing it with your very first home mortgage...it's an exciting time. The dreaming of possibilities, the planning of gatherings at your new house and all the hope that goes into it can make this journey pretty fun. It also takes some work. Understanding how to finance that first home mortgage takes a little effort. Fortunately, you have a lot of mortgage options.

One of those options is the zero-down mortgage choice called USDA Rural Development. That's right, it's a 100% financing option. Let's look at 3 reasons an RD loan works great for a first home mortgage.

1. No down payment required. Most first time home buyers don't have huge cash reserves. Instead of using your savings on a down payment, you get to use it on new furniture!
2. Income limit. RD limits how much money your household can make, and still qualify for the loan. First home mortgage buyers like you are typically in lower paying jobs, so it's perfect.
3. Get a bigger yard. Because "rural" can mean outside of city limits or out in the country, chances are you'll end up with a bigger yard than a house in a city. 

Learn more about USDA Rural Development with the fact sheet we've prepared. Download your copy at the button below. And be sure to explore more information about your first home mortgage choices. Subscribe to the AmeriFirst blog to receive daily articles on the mortgage process.

(landscape photo: Flickr user Rick Smit)