Home Mortgage Financing

Over 50% of potential home buyers state that the one thing in their way of buying a home is the down payment requirements.

The United States Department of Agriculture (USDA) has a home loan programs that offers no down payment loans to qualified buyers.  This program is geared towards home buyers that want to purchase a home in a qualified rural area and have incomes in the low to moderate range.  Guideline can be found on the USDA web site.  In Middlesex County NJ we found homes in Spotswood, Monroe and South Brunswick that a home buyer could use USDA loan program to to purchase. Some homes in towns of Monmouth, Somerset and Mercer Counties also qualify for these loans. Some buyer may also qualify for a grant from the USDA to reduce the there mortgage payments if their incomes are too low. Loans from the USDA have low interest rates and lower mortgage insurance cost then FHA or Conventional loans.