Loan types
USDA loans for eligible homes and incomes.
USDA Rural Development loans help qualified buyers purchase a primary home in an eligible location, often with no down payment.
Who it is for
- Buyers whose household income falls within the county limit
- Properties inside a USDA-eligible area
- Borrowers who will live in the home
How it usually works
- The property address and household income both have to qualify. A nearby suburb can be eligible even when it does not feel rural.
- Qualified buyers can often buy with no down payment. A guarantee fee is usually charged and can often be financed.
- Credit, debt, and the home itself still have to pass underwriting. The program is not automatic because the area is eligible.
What to have ready
- Household income for everyone who will live in the home
- Photo ID
- Income and asset documents
- The property address, so eligibility can be checked
Guidelines change, and lenders add their own rules. The description above is a starting point, not a quote and not an approval.