Blogpost

Buy the home of your dreams now—with zero down payment

Name: Riverside Homebuilders
Address: 3045 Lackland Road, Fort Worth, TX, 76116, US
Telephone: (817) 601 - 6230

January 23, 2020

Man in suit handing new homeowner the keys to a house

For many homebuyers, the biggest challenge is coming up with the down payment on a new home. Conventional loans require 20%, but that can be difficult, particularly for first-time homebuyers. There are so many loan programs available, so you need to learn about your options before postponing the many benefits of homeownership. Did you know you can buy the home of your dreams right now, with zero down payment? Riverside Homebuilders has brand new, single-family homes for sale in the DFW metro area that qualify for a special home loan program.

Qualify for the no-down-payment home loan

The USDA Single Family Housing Guaranteed Loan Program was created to help people buy a home in rural areas. The home must be your primary residence and you must meet income eligibility: $86,850 total household income for up to 4 members and $114,650 for a 5- to 8-member household. If your household is larger, add 8% of the 4-member limit for each person beyond 8 to determine your income eligibility.

The USDA Home Loan is guaranteed by the government and available only through approved lenders. Closing costs can be rolled into the loan, reducing your cash amount required for closing even more!

You can qualify with a credit score of 640 or higher. With a down payment of less than 20%, you will need to pay for private mortgage insurance (PMI). This coverage is required until your loan balance reaches 80% of the total loan. The PMI for the USDA home loan is generally lower than with other low-down-payment loans, like the FHA home loan (requiring 3.5-10% down payment).

USDA home loan eligibility is also determined by the property’s location, since it’s intended to boost homeownership in rural areas. That doesn’t mean you are limited to something far beyond city limits. In fact, the USDA is quite reasonable in establishing boundaries.

Eligible locations for USDA home loans

Just 24 miles from Fort Worth, you can discover new construction homes for sale in Godley. Our beautiful neighborhood here, Rustic Meadows, has move-in ready homes now available and a few under construction. If you’re looking for between 1,900 and 2,400 square feet, your new home could be right here.

Picture yourself living the good life on the lake. Head to Granbury where you can buy a home with no down payment at Indian Harbor. It’s an easy drive on Highway 144 and you can have a home on Lake Granbury in a gated community with its own marina, clubhouse, swimming pool, and teen center.

Would you like the luxury of a 1-acre yard or larger? How about close proximity to the popular vacation spot of Eagle Mountain Lake? In Springtown, you CAN have it all! Live only 23 miles from Fort Worth in a friendly hometown. We have a few homes remaining in our USDA-eligible community of Springwood Ranch, with homesites as large as 2.5 acres. We’re also launching two new communities in Springtown, TX—Regent Park and Spring Creek Farms.

Stop putting off the realization of your dreams. Riverside Homebuilders wants to help you make the move to a new home, fully warrantied, with all the features you’ve been wishing for: smart technology, granite countertops, wood floors, stainless steel appliances, patio, and an owner’s suite that pampers you.

Check out all of our USDA home loan-eligible communities in the DFW metro area:

Decatur

Hillcrest Meadows, starting at $264,900

Ennis

Sleepy Hollow Manor (coming soon), starting at $239,900

Gainesville

Vintage Square, starting at $204,900

Additional Gainesville Locations, starting at $179,900

Godley

Rustic Meadows, starting at $274,900

Granbury

Indian Harbor, starting at $239,900