If you’re like most home buyers, you may be under the impression that the United States Department of Agriculture’s housing programs are strictly for farming areas—but they’re not. There are some fantastic homes in and around Charlotte that are eligible for USDA Single Family Housing Programs that require no down payment.
The USDA offers two different options for qualified applicants to purchase a home in the Charlotte area. Their main goals are to assist families and individuals with the cost of home ownership, as well as develop rural areas.
The great news is—you don’t have to be a first-time home buyer—to take advantage of one of these loans. You’ll need to get in touch with an approved lender to discuss which path is right for you. We can connect with with our preferred USDA approved lenders. So, what’s the difference between the two?
Single Family Housing Direct Home Loan
This type of loan is offered to low-income applicants to secure them safe and sanitary housing conditions. Income eligible home buyers, who don’t qualify for a traditional loan, can become homeowners by receiving subsidies to assist with mortgage payments. Direct Home Loans can be used to purchase approved homes in qualifying areas.
Single Family Housing Guaranteed Loan Program
Individuals who do not meet the criteria of the Housing Direct Home Loan may be approved for the Guaranteed Loan Program. Income eligibility is not as limited, and moderate-income families can be approved. This type of loan can also cover the costs of necessary home renovations with the purchase of a qualifying home.
Are You Thinking of Moving to Charlotte?
If you’re considering moving to the Charlotte area, we can help you find the perfect home. Give us a call at 704-608-2794 or get in touch with us online to let us know what you’re looking for.
In the meantime, please check out some of our featured USDA home communities below.
Call us at 704-608-2794 to talk to a knowledgeable Charlotte Realtor® who can help you find the perfect place to live today.
You can also explore:
- All Charlotte, NC real estate listings
- Luxury homes for sale in Charlotte
- New construction for sale in Charlotte
- Charlotte’s most popular featured communities
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