USDA Loans

If you are looking to live in a rural area and are looking to avoid paying for a down payment, this loan is for you!

General requirements:
• Property must be in eligible area
• Income limits apply
• At least 600 credit score*

*If your credit score is close to 600, give us a call. You may still qualify!

What is a USDA Loan?

The United States Department of Agriculture (USDA) backs USDA loans as a way to encourage the purchase of homes in rural areas. They want to make loans more affordable as a way to support the community. Since these loans have government backing, they are able to have lower interest rates.

With USDA loans, no down payment is required. A VA loan is the only other type of loan that offers zero down payment.

How do I know if I am eligible?

Due to the many benefits USDA loans offer, they also have more qualifications than conventional or FHA loans. Contact our helpful loan officers for eligible areas and assistance.

You also will need to meet income requirements. USDA loans were created to support families with economic need, so your income can’t be higher than 115% of the median income in your area.

What is PMI?

PMI stands for “private mortgage insurance,” which is a way to protect your lender in case you default on your loan. Since USDA loans are backed by the government, the PMI is much less than it would be on a conventional loan.