USDA Loan – When “Home” Is Outside the City Limits

• USDA loans are government insured 100% purchase loans for rural property outside of major metropolitan areas.
• USDA loans are serviced by direct lenders that meet federal guidelines.
• USDA loans offer unique benefits, including no down payment requirements for buyers.

Not Just for Farmland: If you live outside of a major metropolitan area, then you may qualify for a USDA loan. In fact, millions of borrowers are eligible for USDA loan, the only program that offers 100% financing available [See note 1] to buyers who haven’t served in the military.  The county and zip code of the home you want to purchase may meet the guidelines as long as it is outside of a major metropolitan area.

No Down Payment Required: Conventional loan can require a 20% down payment, but USDA loans stand alone in offering 100% purchase financing with no down payment requirements. As long as you meet the USDA requirements, you can get 100% financing when you purchase your rural home.

The requirements for a USDA loan are specific: The location of the home, your income, credit history, and number of dependents will determine eligibility for this fantastic program.