These loans won't help investors with purchases but they can help the investor get a qualified buyer. The US Department of Agriculture (USDA) has a rural development home loan program for low income buyers in cities under 20,000 in population. The loans require little to no down payment, except closing costs, and offer long term fixed rates-currently 4%.
The USDA typically has an office in each county outside metropolitan areas. Look in the white pages under U S GOVRENMENT, Agriculture Department and speak with the rural development specialist for contact information. You can then send interested buyers to them.
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