The USDA mortgage is a government loan program that allows home buyers to purchase a home and finance the closing costs in addition to the purchase price, as long as the home appraises for the loan amount. This is another one of those “sounds too good to be true” or “so what is the catch?” types of programs, however, this is a very real and popular loan program.
The limitation of this loan product is that the home must be located in a rural area (search property here), and that there are maximum household income limitations with some exceptions.
Check to see if your household qualifies here: https://eligibility.sc.egov.usda.gov/eligibility/incomeEligibilityAction.do?pageAction=state
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