USDA Loans
Zero down payment loans for rural and suburban homebuyers in eligible areas.
USDA loans are backed by the U.S. Department of Agriculture and are designed to promote homeownership in rural and suburban areas. They offer 100% financing, meaning no down payment is required, making them an excellent option for eligible buyers.
Key Benefits
• Zero down payment - 100% financing available
• Lower interest rates - Competitive rates compared to other loan programs
• Flexible credit requirements - More accessible than conventional loans
• Lower mortgage insurance - Typically less expensive than FHA loans
Frequently Asked Questions
What areas are eligible for USDA loans?
USDA loans are available in rural and suburban areas. Many areas you might not consider "rural" actually qualify. You can check eligibility using the USDA eligibility map.
Are there income limits for USDA loans?
Yes, USDA loans have income limits based on the area and household size. Generally, your household income cannot exceed 115% of the area median income.
What credit score do I need?
While USDA doesn't set a minimum credit score, most lenders require at least 640. However, some may accept lower scores with compensating factors.
Key Highlights
- •Zero down payment
- •Lower interest rates
- •Flexible credit requirements
- •Lower mortgage insurance
- •Rural and suburban areas
- •Income-based eligibility
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