If you’ve read this far and clicked on this article, you’re probably thinking one of two things.

1.) How can I take advantage of this program?
2.) What kind of scam is this guy spinning here?

Hopefully you were thinking both! It’s good to be cautious, especially in this day and age. There are plenty of scams out there. There are plenty of people trying to take advantage of people in these low economic times. After hearing about this program though, you’ll be able to do your own research, ask around, and discover that yes, this is actually a real, government backed program.

What is it? It’s called a USDA loan. That’s right, USDA. I know what you’re thinking: “What, are you trying to do, get me to buy a cow?” It is the same USDA you are used to hearing about. The United States Department of Agriculture. Yes, they have their seal stamped in the front of packages of good beef. But they also offer home loans. Needless to say, the USDA is a government agency, one committed to helping rural and agricultural areas. In their efforts to help develop these areas, they are offering loans with 100% financing (0% down) that allow you to roll the closing costs into the loan.

In other words, No Down Payment, No Closing Costs What you also might not have known is that almost all of Collier County and much of Lee county and Charlotte County (in other words, most of South West Florida) are designated either rural or rural fringe areas, both qualifying for USDA loans.

Can anybody qualify for a USDA loan?

No. There are restrictions based on location and income. If you have a 6-figure income and are looking to buy a $ 900,000 condo on the water in Downtown Naples, I’m not sure why you would need 0% down or no closing costs–and, this program isn’t going to help you. However, if you are making in the area of $ 40k-50k per year or less, then you are shaping up nicely as someone that might benefit from this program. Each county is different, and the income restrictions are different for single buyers, married, and buyers with families, but you can check on updated restrictions on the USDA website.

How can I learn if I qualify?

If you are interested in buying a house in a rural fringe area, in SWFL or anywhere else, you are going to need to check if the loan is available in your area. The USDA website listed below will help guide you there. An easy way to do this would also be to speak with a Loan Officer that has access to the program. My company does, and we’d be happy to help you see if you qualify!