USDA Loans

USDA Loans offer flexible options as either Fixed Rate or Adjustable Rate mortgages. You may qualify with less than perfect credit. Buying a home with little or no down payment can provide opportunities for buyers that otherwise may not be able to become homeowners. Fortunately for today’s buyers, there are a few programs that can help them qualify for a mortgage with a very small down payment. One that is not widely discussed is the USDA Loan Program.

Do I Qualify for a USDA Loan?

In the past USDA Loans were often call "farmers loans" but times have changed. Almost anyone outside of a major metropolitan area looking to purchase a home can qualify for a USDA loan. Eligibility varies based on area, your income, credit history, and number of dependents claimed so it's important that you call and speak with one of our experts to see if you qualify.

  • No down payment required
  • USDA loans come directly from the federal government or from government approved and backed lenders
  • Household income limits apply and are based on location
  • A high income is not necessary to qualify for a USDA mortgage
  • Refinance up to 100% of your primary home’s value
  • Have a minimum FICO score of 620
  • Looking to roll your closing costs into your loan

Advantages of USDA Loans

  • Purchase your home with as little as 0% down payment
  • Lower interest rates compared to Conventional loans
  • Gift funds can be used at closing
  • Terms up to 30 years
  • 5-year adjustable rate mortgage available
  • No monthly PMI (Private Mortgage Insurance)
  • Pay your mortgage off at any time without pre-payment penalties
  • No max loan amount. Unlike most conventional loans and FHA loans, USDA loans have no maximum purchase price

Why a USDA Loan?

There are many benefits, including: no down payment required; borrowers who qualify for a USDA Home loan have the flexibility to pay nothing out of pocket for a down payment. Additionally, the USDA Loan allows borrowers to use a gift or grant to go toward their mortgage.

This program helps lenders work with low and moderate income households living in rural areas to make homeownership a reality. Providing affordable homeownership opportunities promotes prosperity, which in turn creates thriving communities and improves the quality of life in rural areas. 

If coming up with a down payment is holding you back from your dreams of home ownership, the USDA loan may be just the answer you are looking for.