USDA home loan is a competitively priced mortgage option that helps to make purchasing a home more affordable for low-income individuals living in designated rural areas. The U.S. Department of Agriculture backs USDA loans in the same way the Department of Veterans Affairs backs VA loans for eligible individuals such as veterans and their families.

Overview:

 

• Must be a U.S. resident, noncitizen national or permanent resident alien.

 

• Home must be in eligible rural area. You can check eligibility here

 

• Adjusted gross income cannot be more than 115% of median income so please check eligibility here

 

• 0% down payment available

 

• Seller contributions up to 6% of the purchase price towards buyer closing and prepaid costs

 

• 30-year Fixed only

 

• Single-Family Residence and Condo only