Rural Home Buyers Can Get “No-Down Payment Loans”

Total Mortgage Services, a national mortgage lender, is offering rural home buyers 100 percent financing or closing cost assistance. Through its new Guaranteed Rural Housing Loan Program, insured by the U.S. Department of Agriculture, the lender will offer low- and moderate-income residents living in rural areas (usually defined by a population of 10,000 or less or, in some cases, 20,000 or less) several affordable housing finance options:

  • No down payment required.
  • Closing costs can come from any source, including gifts.
  • Competitive 30-year fixed rates.
  • No monthly mortgage insurance premiums.


Borrowers can obtain a loan to purchase a new or existing home that is located in a designated rural area. “The USDA home loan program is one of the most compelling mortgage products in today’s challenging mortgage marketplace and offers real solutions for rural borrowers, especially those in need of 100 percent financing or with lower credit scores,” John Walsh, president of Total Mortgage, said in a statement.

Information provided by REALTOR® Magazine Online.  

For more information about this program for the Placerville, El Dorado County, CA., region