USDA Loans

What is a USDA Loan?

A USDA rural housing loan is a loan that is guaranteed by the United States Department of Agriculture. These loans are available to buy or build properties located in designated rural areas. USDA loans are for owner occupied primary residences only and do have income requirements that must be met to qualify.

With no down payment requirement and a relatively low minimum FICO score, a USDA loan is a great choice for borrowers who meet eligibility requirements and are looking to buy in a rural area.

Overview of the Program:
  • 30 Year Fixed Rate Loan
  • 580 Minimum FICO
  • 100% Maximum LTV
  • $0 Down Payment Required
Eligibility Information:
  • Owner occupied primary residences only
  • Purchase transactions only
  • Borrower’s combined household income cannot exceed more than 115% of the median income for the area
  • Property must be located in an eligible area, eligibility can be checked here
  • Income and loan limit requirements apply