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What is a USDA loan?

A USDA loan is a mortgage loan offered to rural property owners by the United States Department of Agriculture (USDA). The USDA loan program is also known as the USDA Rural Development Guaranteed Housing Loan Program.


Special financing for USDA rural housing

The USDA provides special financing opportunities to homebuyers who live or would like to purchase a primary residence in rural areas as defined by the USDA. Not sure if the home you want to buy is located in a rural area? Check here.

USDA loans, or Rural Development loans, are available to homebuyers with low-to-average income for their area, offer 100% financing with reduced mortgage insurance premiums and feature below-market mortgage rates.

USDA home loans are helping many people buy homes rather than continue to rent.

Who can qualify for a USDA loan:

  • Anyone who lives in or will purchase in areas defined by the USDA as rural
  • Households with a low-to-moderate income for their area
  • First-time and repeat homebuyers

Benefits of USDA financing programs:

  • 100% financing of the purchase price
  • Better-than-average interest rates
  • Credit scores as low as 580
  • Zero down payment options

All loans subject to underwriter approval; terms and conditions may apply. Subject to change without notice. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.