USDA Loans

What is it?

USDA Loans are loans that allow for the flexibility of more affordable living for those wanting to purchase a home in rural or suburban areas. USDA loans may be perfect for those in search of a home with no down payment, no cash reserves required, and workable credit options. Backed by the U.S. Department of Agriculture, USDA loans are great for those with moderate or low income.

What You’ll Need

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A minimum FICO®Score of 640.

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An eligible property – the home you want to buy or refinance must be in an eligible rural or suburban area.

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A household income under the limit set by the USDA for the area where you want to buy a home.

Property Requirements

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The home must be your primary home, not a vacation home or income property.

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The property can't be a working farm.

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Your home appraisal must show the condition of the home meets USDA standards, including:

  • The water, electrical, heating and cooling systems must be up to date and functional.
  • The foundation and house need to be structurally sound.
  • The property must be accessible from a paved or all-weather road.