With home prices still elevated 📈 and interest rates fluctuating, buying a home can feel out of reach.🥺

🎉𝘎𝘰𝘰𝘥 𝘯𝘦𝘸𝘴: FHA and USDA loans are designed to make homeownership more accessible with lower down payments ⬇️ and more flexible guidelines than conventional loans.👍🏼

👉🏼𝘏𝘦𝘳𝘦’𝘴 𝘢 𝘲𝘶𝘪𝘤𝘬 𝘣𝘳𝘦𝘢𝘬𝘥𝘰𝘸𝘯:

💰𝗙𝗛𝗔 𝗟𝗼𝗮𝗻𝘀

✅𝗗𝗼𝘄𝗻 𝗽𝗮𝘆𝗺𝗲𝗻𝘁: Starting at 3.5%

✅𝗖𝗿𝗲𝗱𝗶𝘁 𝘀𝗰𝗼𝗿𝗲: As low as 580 for 3.5% down (500–579 may qualify with 10% down)

✅𝗗𝗲𝗯𝘁-𝘁𝗼-𝗜𝗻𝗰𝗼𝗺𝗲 𝗥𝗮𝘁𝗶𝗼 (𝗗𝗧𝗜): Your DTI is all your monthly debt payments divided by your gross monthly income. Typically for this loan, your DTI should not exceed 43% to 45% (sometimes higher with strong factors)

✅𝗘𝗺𝗽𝗹𝗼𝘆𝗺𝗲𝗻𝘁: 2-year work history preferred

✅𝗠𝗼𝗿𝘁𝗴𝗮𝗴𝗲 𝗶𝗻𝘀𝘂𝗿𝗮𝗻𝗰𝗲: Required (often for the life of the loan unless 10%+ down)

✅Must be primary residence

💰𝗨𝗦𝗗𝗔 𝗟𝗼𝗮𝗻𝘀💰

✅𝗗𝗼𝘄𝗻 𝗽𝗮𝘆𝗺𝗲𝗻𝘁: $0 down for eligible buyers

✅𝗖𝗿𝗲𝗱𝗶𝘁 𝘀𝗰𝗼𝗿𝗲: 640 for streamlined approval (flexibility possible)

✅𝗗𝗲𝗯𝘁-𝘁𝗼-𝗜𝗻𝗰𝗼𝗺𝗲 𝗥𝗮𝘁𝗶𝗼 (𝗗𝗧𝗜): Around 41% guideline

✅𝗜𝗻𝗰𝗼𝗺𝗲 𝗹𝗶𝗺𝗶𝘁𝘀: Up to 115% of area median income

✅𝗟𝗼𝗰𝗮𝘁𝗶𝗼𝗻: Must be in a rural USDA-eligible area

✅Must be primary residence

Buying a home might feel overwhelming 😮‍💨 right now, but there are more options available than most people realize. Programs like these are designed to open doors, not close them, so if you’ve been thinking about buying, it’s worth exploring what you may qualify for. 😊