How to Buy a House with Low Income/ USDA 502 Direct Loan 2024

Are you ready to buy a house, but have low income? Is your income considered low to very low? The USDA has a way to help you buy a house! There is a program just for you! The federal government has a direct loan to help make homeownership a reality for everyone. Under the USDA, US Dept Of Agriculture, there is a loan called 502 Direct, and this video will cover exactly what you need to know and how to apply.

Check out our resources below for important links!

CHAPTERS:
0:00 Buy a House with Low Income?
0:33 What is a USDA 502 Direct Loan?
0:54 0% Down Loan
1:12 Minimum Income Guidelines to buy a house with low income on the 502 direct loan program
1:38 Location of House
1:57 Safe & Affordable Housing
2:12 Not Qualified for other loan types
2:27 When you buy a house with low income on the 502 direct loan program, it must be your primary Residence
2:35 Over 18 Years old
2:38 Legal US resident or citizen
3:04 Type of property
3:20 To buy a house with low income on the 502 Direct Loan Program, you cannot be a current homeowner
3:40 Interest Rate offered
3:50 Length of Loan
4:10 USDA could pay you monthly! But… warning!
4:44 Annual Re-verification of Income
5:00 Minimum Credit Score
6:14 Apply in Person
6:30 How to Get help to not make mistakes
7:10 Playlist for Improving Credit Score

#502directloan, #usdaloan, #lowincomebuyshouse #lowincomehouse #homebuyers #loanwithjen
#texasrealestate

Resources:

🔎 → Search Eligible Areas: https://eligibility.sc.egov.usda.gov/...
🔎 → Check Income Limits in Your Area, just click on your state: https://www.rd.usda.gov/sites/default...
🔎 → Your USDA Texas Office: https://www.rd.usda.gov/tx
🔎 → Info on the USDA Website: https://www.rd.usda.gov/programs-serv...
🔎 → Certified Packagers: https://www.rd.usda.gov/programs-serv...

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Jennifer Hughes Hernandez, Legacy Mutual Mortgage - Equal Housing Opportunity Lender NMLS #514497
Phone: 713-579-3611
[email protected]

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