United States Department of Agriculture Loan
The Single Family Housing Program under the United States Department of Agriculture (USDA) provides home ownership opportunities to buyers looking for a home in rural areas who meet certain income requirements. There are several loan, grant, and loan guarantee programs that assist people in finding a home that suits their needs.
USDA Loan Benefits:
- There is no down payment.
- Borrowers are able to use a gift or grant to go toward their mortgage.
- Maximum loan limits vary based on location.
- Individuals who meet income-eligibility requirements.
- Buyers will personally occupy the dwelling as their primary residence.
- Individuals who meet credit obligations such as paying credit payments on time and possessing a good credit history.
- Qualifying applicants must purchase a property that meets all program criteria.
USDA Funds can be used for:
- Refinancing of eligible loans.
- New or existing residential property to be used as a permanent residence.
Please contact the loan office closest to you for more information on how to qualify for a USDA loan.