USDA Loans are Available!

Get a USDA Home Loan quote today.

USDA Loans are Available!

Open the door to rural homeownership with a USDA Loan!

What is a USDA Loan?

USDA loans are zero-down-payment mortgages for rural homebuyers. They're catered for borrowers who might not have the capital for a down payment and are otherwise unable to qualify for a traditional mortgage.

USDA Loan Requirements:

  • U.S. citizenship (or permanent residency).
  • Home purchase is for a primary residence where the applicant will reside.
  • A monthly payment - including principal, interest, insurance and taxes - that's 29% or less of the borrower's monthly income. Other monthly debt payments you make cannot exceed 41% of your income. The USDA may consider higher debt ratios if you have a credit score above 680.
  • Record of consistent, dependable income, typically for a minimum of 24 months.
  • An acceptable credit history, with no accounts converted to collections within the last 12 months, among other criteria. (If you can prove that your credit was affected by circumstances that were temporary or outside of your control, including a medical emergency, you may still qualify.)

How do USDA Loans Work?

USDA Loans come in the form of three options for borrowers:

  • Loan guarantees: The USDA guarantees a mortgage issued by a participating local lender - similar to an FHA loan and VA-backed loans - allowing you to get low mortgage interest rates, even without a down payment. Please note that borrowers who opt for little to no down payment must pay a mortgage insurance premium.
  • Direct loans: Issued by the USDA, these mortgages are for low- and very low-income applicants. Income thresholds vary by region. With subsidies, interest rates can be as low as 1%.
  • Home Improvement Loans and Grants: These loans or forgiven grants allow homeowners to repair or upgrade their homes. Packages can also combine a loan and a grant and may provide as much as $27,500 in assistance.

Open the door to rural homeownership with a USDA Loan!

Get Your USDA Loan Quote Now

Mortgage rates change daily and vary based on location, your personal finances, and other factors.

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