Mortgage-Home Loan Program Information

Ohio Rural Home Loans, ohio usda mortgage, ohio government home loans, ohio rural development

Many people do not know that USDA (United States Department of Agriculture) has Home Purchase Programs in Ohio.

The Ohio USDA (United States Department of Agriculture) rural mortgage program is another government sponsored home buying program in Ohio. Like Ohio FHA, Ohio HomePath and Ohio VA Loans, USDA DOES NOT originate the mortgage, you get an Ohio USDA mortgage through a lender like us!

Basic highlights of Ohio USDA mortgage program:

• Zero Money Down
• One Fixed Rate Loan
• No Monthly PMI Insurance required
• No cash reserves required (money in the bank not required)
• Single Family Homes only (can't purchase duplexes, apartments, est..)
• No mobile homes
• No "fixer-uppers" (standard homes in working order)
• Flexible credit requirements (similar to FHA)
• Over 640 credit score credit qualifies.
• Low, fixed interest rates
• Loans my qualify for Ohio's OHFA Mortgage Credit Tax Credit Program

Income Restrictions: Rather than having a loan limit, USDA has household income limits, which vary by county and household size. Click here to check your USDA income restrictions.

Location Restrictions: USDA home loans are not for the "big cities" and surrounding areas. Click here to check qualifying areas in Ohio.

If you qualify for an Ohio USDA mortgage, many times it can be a more attractive mortgage program than FHA!