USDA HOME MORTGAGE LOANS

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WHAT DOES THIS MORTGAGE PROGRAM DO?

This home loan program, from the United States Department of Agriculture (USDA): Rural Development, assists approved lenders in providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary housing as their primary residence in eligible rural areas.

Eligible applicants must buy a dwelling in an eligible rural area. The program provides a 90% loan note guarantee to approved lenders in order to reduce the risk of extending 100% no money down loans to eligible rural home buyers.

USDA Eligible Farm House

WHO MAY APPLY FOR THIS PROGRAM?

Applicants must:

  • Meet income eligibility.
  • Agree to personally occupy the dwelling as their primary residence.
  • Be a U.S. Citizen, U.S. non-citizen national or Qualified Alien.
  • Have the legal capacity to incur the loan obligation.
  • Have not been suspended or debarred from participation in federal programs.
  • Demonstrate the willingness to meet credit obligations in a timely manner.
  • Purchase a property that meets all program criteria
Areas Not Eligible for USDA

WHAT IS AN ELIGIBLE AREA?

Check eligible addresses for the loan guarantees at the USDA website, or give us a call. We’d be happy to help you choose an eligible area.