: Moderate-income households (up to 115% of the area median income).
: There is technically no minimum credit score set by the USDA, though private lenders for guaranteed loans often require a score of 640 or higher .
: Can be as low as 1% with payment assistance. usda home buying loan programs for teachers
If you are buying in a non-rural area, you may consider these teacher-specific alternatives:
: Low and very-low-income applicants who cannot obtain other financing. : Moderate-income households (up to 115% of the
: Offers a 50% discount on the list price of homes in designated revitalization areas for teachers who commit to living there for three years.
: Teachers changing school districts can still qualify if they have a signed contract and a verified one-year employment history. If you are buying in a non-rural area,
: Provides average savings of $3,000 through reduced lending fees and rebates when using their network of specialists. Single Family Housing Guaranteed Loan Program