United States Department of Agriculture

Quick Summary

USDA loans, backed by the United States Department of Agriculture, offer a pathway to homeownership for eligible low-to-moderate income families by providing competitive interest rates, zero down payment requirements, and the opportunity to purchase homes in designated rural and suburban communities.

What is a USDA Loan?

A USDA loan, also known as a USDA Rural Development Loan, is a government-backed mortgage program offered by the United States Department of Agriculture (USDA). These loans are designed to promote homeownership in rural and suburban areas by providing eligible low-to-moderate income families with affordable financing options. USDA loans offer competitive interest rates and require no down payment, making homeownership more accessible in areas that meet the USDA’s definition of rural.

Is a USDA Loan Right for me?

Discover if a USDA loan aligns with your homeownership goals by considering the following factors:

  1. Location Eligibility: USDA loans are exclusively available for properties located in eligible rural and suburban areas. Check the USDA’s property eligibility map to determine if the location of the property you’re interested in qualifies.
  2. Income Requirements: USDA loans are designed for borrowers with moderate incomes. Your household income should fall within the USDA’s income limits for your area to be eligible.
  3. Zero Down Payment: One of the most appealing features of USDA loans is the absence of a down payment requirement. This can make homeownership achievable without the need for substantial upfront funds.
  4. Property Type: USDA loans can be used to finance a variety of property types, including single-family homes, townhouses, and certain condos, as long as they meet the USDA’s property standards.

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