USDA Loans

What is a USDA Loan?

USDA Loans are home loans that are backed by the US Department of Agriculture. The USDA created this loan program in hopes of encouraging Americans to move to less developed areas – They offer lower interest rates and no down payment options to those buying or building a home in eligible regions. USDA Loans are a good option for low to medium income borrowers in rural areas. USDA Loans also:

• Do not require a down payment
• Require a 640+ credit score
• Require the borrower to pay a one-time guarantee fee and yearly annual fee in place of Private Mortgage Insurance

If you think a USDA Loan may be right for you, you can submit your application now. In the meantime, if you have any questions about USDA Loans (such as what exact areas qualify or if you’d be a good candidate), please don’t hesitate to reach out to one of our Loan Officers for help.

If you’d like to further explore your options outside of a USDA Loan, you can also look into FHA Loans, VA Loans, Conventional Loans, or even Down Payment Assistance Options.