USDA Homes Loans In Arkansas
A True $0 Down Home Loan
Rural Development Home Mortgage
For many Arkansans, the dream of buying a home often seems
unobtainable. Many industry experts will tell you one of the major problems in
the housing market today is affordability. While that may true for some many
can handle the monthly obligation but the idea of a down payment puts that
dream out of reach. A USDA home loan could be the answer! This
government-backed loan program which offers 100% financing, was
designed for low to moderate-income families in designated areas. This loan
program will allow homebuyers to purchase a home in these designated
areas with zero down payment.
What is a USDA Home Loan?
The USDA (United States Department of Agriculture)
home loan is that was designed for qualifying families in designated
areas. The USDA Loan does not have a minimum income requirement it has a
maximum income requirement based on the number of people living in the home.
Backed by the USDA, this loan product has several key features:
✅ No Down Payment –
This is a true $0 down loan. It is 100% of the purchase price
✅ Lower Interest Rates –
Mortgage rates tend to be lower than the conventional rates since it's backed
by the government
✅ Low Mortgage Insurance –
The USDA loan has its equivalent of mortgage insurance called a guarantee fee
and it is lower than the fee charged on the FHA home loan.
✅ Flexible Credit
Requirements – Buyers with credit scores as low as 600+ may qualify
✅ Closing Costs Can Be Rolled In –
If the home appraises for enough closing costs can be rolled into the loan
Eligible USDA Properties
What are the Requirements for the USDA Loan?
The eligibility requirements for the USDA home loan
in Arkansas, are fairly simple:
- The
home must be in a USDA-eligible area (rural or suburban).
- Household
income must be within USDA limits, which vary by county.
- The
property must be used as your primary residence (not
an investment or vacation home).
- A minimum
credit score of 600 is recommended, though some lenders may allow
lower scores with additional requirements.
If you want more information or want to find out if you
qualify contact me today. I can help you align with a USDA lender that can
quickly get you pre-approved and we can start looking for your $0 Down dream
home
USDA-Eligible Areas in Arkansas
There are many areas in Arkansas that are eligible
for 100% USDA financing! The vast majority of the state qualifies.
Below is a list of a few of the qualifying areas.
- Faulkner
County (Mayflower, Greenbrier, Vilonia, Wooster) – These areas
are great because they have a small-town feel but are close to major areas
such as Conway and Little Rock, AR.
- White
County (Searcy, Beebe) – White County is great because of the
amazing school systems and Harding University is in Searcy.
- Saline
County (Benton, Haskell, Bauxite) –These areas are great because
they offer a slower paced lifestyle while still being close to Bryant and
Little Rock.
- Vann
Buren County (Clinton, Shirley, Greers Ferry) – This offers the
full effect of the Ozark life. Year round outdoor activities.
Garland County (Hot Springs Village, Fountain
Lake) –
Near beautiful lakes and mountains.
Apply For A USDA Loan
How to Apply for a USDA Loan
Getting started with a USDA home loan is simple!
1️. Check your USDA
eligibility – Contact us to find out if you qualify.
2️. Get pre-approved –
I will connect you with a USDA Lender
3️. Find your dream home –I
will help you find a qualifying home
4️. Close on your new home –
Move in with no down payment required!
Start Your Homeownership Journey Today!
Call me today to start down the path to buying
your dream home with the $0 Down USDA Home Loan.
Call me now at 501-951-9200 for more information