JFMIP SR 00 01 Guaranteed Loan System Requirements Gao Form

Instructions and help about JFMIP SR 00 01 Guaranteed Loan System Requirements Gao

USDA is a loan that most people don't know about. It allows you to buy a home with 0% down in most areas. A lot of people don't know about them. They think that they're for farms or they're inaccessible, but in reality, it's available for most people in most areas. So some quick highlights with this program. Then I'm gonna show you everything you need to know about this program. You're gonna be more educated than most loan officers. Are about this program. So first, the biggest draw to USDA is it's 0% down. It's not a down payment assistance program. It's not a grant that you have to pay back. It's truly, you don't have any down payment on this loan. Okay? It also comes with a low rate, a low mortgage insurance compared to conventional loans, which I'm gonna show you here in an upcoming slide as well. Now there are two different types of USDA loans. There's one called USDA Direct, and one called USDA Guaranteed. So USDA direct is only offered directly through USDA through USDA's webs