Great for First-time Home Buyers

100% Financing (including Closing Costs)

No Down Payment Requirements

No Pre-payment Penalties

Low Rates

Existing Homes, Foreclosures, New Construction

Benefits of USDA Loans

• 100% Financing: You can buy a home with no money down. You can even finance your closing costs.
• You can refinance your home up to 100% of its value.
• Low-Fixed-Rate Mortgage Options.
• They are usually easier to get because the government insures the loan, so there is much less risk to the lender.
• They can be used for existing homes, foreclosures, or new construction.
• Simple loan process.
• There is no loan limit. There is no age limit.
• There is no prepayment penalty.
• You can use the loan to repair or add to your home.
• Flexible credit requirements.

Who is eligible for a USDA loan?

Generally, these loans are available to anyone who meets minimum credit guidelines and local area income requirements and is purchasing a home or refinancing their home in an area that is not considered a major metropolitan area by the USDA.

Some common misconceptions about USDA loans are:

• They are just for farmers. This just isn't the case. It's not "just for farmers"; millions of people already qualify.
• FHA or conventional loans are better. In fact, USDA loans often offer better terms than FHA or conventional loans.
• They aren't flexible. Actually, they can be used to buy a new home or refinance at a lower rate.
• Only certain people can qualify. Anyone who meets the income and credit guidelines can qualify.
• They are only for rural areas. Actually, they are available in many areas that most people would not consider rural. For example, small communities just outside of metropolitan areas.
• They are harder to get than FHA or conventional loans. This just isn't true.  In many cases, they are actually easier to get because the loans are guaranteed by the government.

Check to see if you qualify for a USDA loan:

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