100% Financing

Just what is USDA financing?  When I first learned of the mortgage product, I quickly understood it presented an opportunity unlike most others available.  It is 100% home financing meaning, NO DOWN PAYMENT!  Wow, that takes a lot of the stress and anxiety out of the home purchase process.  The acronym USDA stands for; US Department of Agriculture.  So what exactly does that mean?  USDA loans are available in rural areas, most less than a 20 minute drive into Myrtle Beach.  As we go through this article/blog we will discuss the aspects of the USDA Loan.


100% Financing

Of course, Myrtle Beach does not qualify for USDA financing.  ALTHOUGH, many areas surrounding Myrtle Beach qualify for 100% financing.  Those areas are: Longs, Conway, Aynor, and Loris.  Within those areas is an abundance of new construction, that has an excellent price.  So that means you could purchase a new home, with no money down.  Keep in mind USDA financing is only for single family properties, no multi-family or investment properties.  BE SURE TO VIEW, homes for sale in Longs, SC.  Worth noting Longs & Conway, are within very close proximity to North Myrtle Beach & Myrtle Beach.  These areas have all the shopping, dining, and entertainment options you seek as well.  For example, located in Conway are two of the most awarded & respected colleges:  Coastal Carolina University Horry Georgetown Technical College. 


  • Down Payment0%
  • Gift MoneyIt Is Okay For All Money To Be Gift Money.  Meaning Your Down Payment And Closing Costs Can Be Gifted To You.
  • Loan Limits– $131,600-$243,700 (*Varies By County.)
  • Minimum Credit Score– 620
  • Risk Factor– Gov’t Insured Loan With Funding Fee & MIP.
  • Occupancy– Owner Occupied Only.
  • Cash ReservesNot Required.
  • Eligible BorrowersCitizens of US, and Permanent Aliens.
  • Loan Programs– Fixed Rate Only.

Also worth noting, USDA financing allows for a higher debt to income ratio.  Most often when I have clients that are unable to purchase a home, it is due to their debt to income ratio.  Most loan products allow for up to a 44% debt ratio, while the USDA loan allows up to a 50% debt ratio.

Final Thoughts

Be sure to view, Myrtle Beach Mortgage Lenders (for more information regarding USDA financing).  I would like to close this article/blog by saying, I hope this has been helpful and informative. For any questions or concerns feel free to contact me, my info is below.  Thanks in advance!


100% Financing

Call your Myrtle Beach Real Estate Expert Everest Vaught at 843-429-1876 for any further assistance.  Feel free to email me: everestsellshomes@gmail.com  

“My Job Isn’t Complete, Until My Clients Dreams Are Fulfilled.”


This content is not the product of the National Association of REALTORS®, and may not reflect NAR's viewpoint or position on these topics and NAR does not verify the accuracy of the content.