USDA Loans

Live Comfortably Outside of City Limits

Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for properties located in designated small towns, suburbs and exurbs. This program helps eligible low- to moderate-income families achieve homeownership by offering a no down payment option.

USDA Loan Highlights

With flexible requirements, USDA loans feature:

  • 100% financing + required guarantee fee = 102% of the appraised value
  • Low FICO score requirements
  • Low interest rates
  • Low closing costs
  • Gift funds can be used for closing costs
  • 30-year, fixed-rate mortgage

USDA Loan Eligibility

Eligibility is based on the property size, location and condition along with income and other qualifying factors. Some of these requirements include:

  • Property must be located in a USDA designated rural area
  • Maximum loan limits vary based on location
  • Household members can have a total income of up to 115% of the medial income for the area
  • Household must be able to afford the mortgage payment, including property taxes, homeowners insurance and the annual guarantee fee payable on a monthly basis