USDA/RD Loans

Why Choose a USDA/Rural Development Mortgage?

Home loans guaranteed by the United States Department of Agriculture (USDA) provide affordable financing options for properties located in designated small towns, suburbs, and exurbs. This program helps eligible low- to moderate-income families achieve homeownership by offering a no-down-payment option.

Benefits

• 100% financing
• 620 minimum credit score required – All borrowers are required to have a credit score
• Low interest rates
• Low closing costs
• Gift funds can be used for closings costs
• Seller can credit up to 6% of the sales price toward buyers closing costs and prepaid items
• Great first-time and move-up buyer program

General Guidelines:

• Property must be located in a USDA designated rural area
• Maximum loan limits vary based on location
• Closing costs can be included in the loan amount if the appraisal is higher than the sales price
• No reserves required