USDA Home Loans
Considering a home in a rural area? If the property is in a USDA-eligible area, you could take advantage of low interest rates and no down payment requirements.
What is a USDA Loan?
USDA loans are designed to support low-to-moderate income home buyers looking to purchase a home in a USDA-eligible area. Since USDA loans are backed by the U.S. Department of Agriculture, this type of mortgage offers low interest rates and 100% financing options. Because there is no down payment requirement, USDA loans put home ownership within reach for many people.
Property Eligibility
USDA-eligible properties aren’t just located in farming and rural areas. Did you know that around 97% of land in the United States qualifies for a USDA loan? There are even some suburban areas that fall within the eligible locations. If you want to see eligible areas, visit the USDA website.
Property Eligibility
USDA-eligible properties aren’t just located in farming and rural areas. Did you know that around 97% of land in the United States qualifies for a USDA loan? There are even some suburban areas that fall within the eligible locations. If you want to see eligible areas, visit the USDA website.
Qualifying for a USDA Loan
USDA loans have a minimum credit score requirement and an income limit requirement. Borrowers must fall within the income limits for the area, which are set at 115% of the median income for the geographic area. USDA loans can only be used for a primary residence, so this type of mortgage is not available to home buyers looking for a second home or investment property. The borrower must also be a U.S. citizen, U.S. non-citizen national, or qualified alien.
Our company is not endorsed by, nor acting on behalf of or at the direction of the U.S. Department of Housing and Urban Development, Federal Housing Administration, U.S. Department of Agriculture, Veterans Administration or the Federal Government.