The USDA Farm Bill

What do homebuyers need to know?

The USDA has a loan program that allows homebuyers to purchase properties in designated rural areas with zero down payment. The population must be less than 20,000 to qualify per the 1990 census.

Which of our local areas may qualify for USDA loans?

Some of the local towns that currently qualify for USDA home loans are Cornelius, Damascus, Forest Grove, Newberg, Sherwood and Wilsonville.

Is there a downside?

I think it’s a fantastic program. It’s been around for quite a while. It’s one of the very few lending programs that allow for zero down loans. If you are interested in living in one of the areas that qualifies for USDA financing, I think it’s a great program.

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