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USDA

I want to live in a rural area. I have low to moderate income.

Why a USDA Loan?

No Down Payment

USDA loans do not require a down payment, which can make it easier for individuals with limited funds for a down payment to qualify for a mortgage.

Lower Interest Rates

Typically offer lower interest rates compared to conventional loans, which can save borrowers money over the life of the loan.

No Mortgage Insurance

Unlike FHA loans, USDA loans may not require mortgage insurance, which can save borrowers money on their monthly mortgage payment. Consult your Loan Originator for details.

Flexible Income Limits

Ideal for homebuyers with incomes up to 115% of the area's median income. It is an excellent option for low-to-middle-income families or individuals.

I'm interested in a USDA loan.

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FAQs

Common questions regarding USDA loans.

A USDA loan is a type of mortgage loan offered by the United States Department of Agriculture (USDA). It is designed to help individuals and families purchase homes in rural areas.

To be eligible for a USDA loan, the property being purchased must be located in an eligible rural area, as defined by the USDA. Borrowers must also meet income requirements, which vary based on location and family size.

A USDA loan does not have a purchase price limit. You can buy a house in any price range if it is in an eligible region.

No, USDA loans do not require a down payment. However, borrowers are responsible for paying closing costs and other fees associated with the loan.