With the changes in the credit market and the new FHA guidelines 100% financing is almost impossible to find.  I say almost because there are a few programs still available.  One of them is the U.S.D.A. Rural Development Program.  The U.S.D.A. Rural Development Program is a government backed loan that allows homebuyers in qualified areas to get up to 102% financing.  Some of the other benefits include:

·         No mortgage Insurance

·         No maximum purchase limit

·         Home repairs can be included in the loan

·         No minimum credit score

·         Flexible income limits

Like all government programs there are restrictions, and the major restriction on this program is the areas that are eligible. 

Some of the areas in Shasta County that qualify are Bella Vista, Palo Cedro, Anderson, Shasta Lake, Cottonwood, Shingletown and parts of Redding. 

The  U.S.D.A has a map that shows the areas that are eligible, all you have to do is type in the property address and it will tell you if the property qualifies or not. Here is a link to the U.S.D.A Rural Development site: U.S.D.A Map