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Under the Guaranteed
Loan Program,
the USDA office of Rural Development
(RD) guarantees loans made by approved lenders. A loan
guarantee through RD means that should the individual borrower
default on the loan, RD will pay the approved lender for the loan. This
guarantee enables borrowers to buy a home with no money down.
READ ABOUT THE USDA LOAN PROGRAM IN THE WALL STREET JOURNAL
Over three-quarters of
the United States is eligible
for Rural Development assistance, whether you are in town or in the
country. Under the terms
of the program, an individual or family may borrow up to 100% of the appraised
value of the home eliminating the need for a down payment and closing
costs. Since a common barrier to owning a home for many potential
borrowers is the lack of funds to make a down payment, the availability of a
loan guarantee from RD makes the dream of homeownership a reality for many
Americans.
Independence
Mortgage Services, Inc. specializes in
no down payment Guaranteed Rural Housing loans. By specializing we
are able to offer better pricing and service then other lenders. We
work closely with Rural Development Offices to deliver our promise to you.
We are committed to making your home buying or refinancing experience as
easy and painless as possible.
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