USDA

USDA Rural 100%
Maui properties have the location requirements that make the Rural Housing Program ideal for this market.

* Provides 100% loan-to-value financing for existing homes or new construction based on appraised value.
* Available to low and moderate income rural households
* No requirement to be “first time” home buyer
* Less up-front cash to close requirements for this program than conventionally insured FHA loans
* Loan limits are dictated by the applicant’s income with respect to program eligibility and loan repayment ability. Previous ties to FHA loan limits have been eliminated.

The Rural Housing program excludes Kahului. All other areas of the island qualify for this program. Since this loan aims towards people intending to occupy the property as their primary residence, Ohana’s or cottages are not allowed. However keep in mind that many condos qualify for this as well so not just single family homes.

Another point worth bringing up is that it allows for the seller to contribute towards your closing costs. This creates a possible situation where you could literally buy a home with zero money down and zero money out of pocket to close escrow! I know it might be hard to believe this is possible in today’s world of financing but it’s true. We have helped many people in the recent years take advantage of this terrific loan program. For further details contact us anytime or click here to apply today!