Are you looking for a no-money-down solution to buying a home? The Federal Governemnt has authorized the funding of the popular USDA's Rual Developement Loan, under section 502 of the Single-Family Housing Program.  This program fell short earlier this year when funding ran out in April.  It took Congress until just recently to reauthorize the funding, but with some changes.

USDA will now be charging a 3.5% fee which will be financed into the loan, and an annual .5% fee of the balance of the loan, in an effort to become self sufficient, which means funding will not run out again.

In 2009, the USDA guaranteed 116,000 loans.  Other than VA eligibile home buyers, the RDL is the only 100% financing program available for the purchase of a home.  Not all properties or applicants are eligible.  Please contact DeHanas Real Estate Services for details at 800-842-0190.