USDA 100% LTV Rural Property Loans
LENDERLINE® is currently offering 100% LTV USDA loans for rural properties located in the State of California.
- The property must be located in the State of California.
- The property must be in a USDA eligible area, look up here.
- USDA income limits apply, look up here.
- 100% loan-to-value. Requires no down payment.
- Closing costs may be paid by the seller up to 6% of the purchase price.
- Closing costs may be gifted from an immediate family member.
- One-time USDA guarantee fee may be financed.
- Minimum credit score of 580.
- Credit scores down to 550 possible with extenuating circumstances.
- 3 non-traditional credit references required if borrower has no credit scores.
- First-time homebuyers OK.
- The borrower cannot own any other properties.
- The property must be used as a primary residence.
- Second homes and investment properties not allowed under this loan program.
- W-2 wage earner or self-employed.
- Single family residence, PUD, or HUD-approved condominiums allowed.
- Working farms and 2-4 unit properties not allowed.
- No reserve requirements.
- Debt-to-income ratios cannot exceed 29/41%, or 32/44% with compensating factors.
- Borrowers must be U.S. citizens or permanent residents with valid work authorization.
- No foreign nationals or undocumented ITIN workers are allowed under this program.
- 30-year fixed rate.
To download underwriting guidelines
for our USDA 100% LTV rural property
To download a loan application
for our 100% LTV USDA rural property
LENDERLINE® is your 100% LTV USDA lender of choice. 100% LTV USDA loans are our specialty. USDA mortgages allow you to purchase rural properties for no money down.
Questions? To get today’s interest rates or to receive a FREE mortgage consultation, call LENDERLINE® toll-free at 1-888-661-7888, or complete this form to schedule an appointment.