USDA loans help moderate-income buyers purchase a home with no down payment. Get a free quote to see if you qualify.
The United States Department of Agriculture (USDA) gives out a variety of loans to help low- or moderate-income people buy, repair or renovate a home in a rural area. Some of the popular types of loans are: the single family direct homeownership loan, the single family guaranteed homeownership loan, the rural repair and rehabilitation loan or grant and the mutual self-help loan. This guide will help you figure out what these loans are and whether you qualify.
Though the terms and details of these loans differ, all offer very low effective interest rates and don't require a cash down payment. To qualify, you need to have a decent credit history.
We're here to make the USDA home loan process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE USDA Loan Qualifier.
We'll help you clearly see differences between loan programs, allowing you to choose the right one for you.
The USDA Guaranteed Loan program helps buyers purchase homes in eligible rural and suburban areas with no down payment. Many towns just outside the major Texas metros qualify, including areas around DFW. You can check any address on the USDA eligibility map.
USDA loans have household income limits based on the county and household size. They also carry an upfront guarantee fee and a small annual fee, both typically lower than FHA mortgage insurance.
A strong fit if you: are buying a primary residence outside the city center, fall within the income limits for your area, and want to keep cash in the bank.
Here's how our home loan process works:
No down payment, competitive fixed rates and lower mortgage insurance costs than many alternatives. Gift funds can help with closing costs, and in some cases closing costs can be rolled into the loan.
Mortgage rates change every day, and your rate will vary based on your location, finances, and other factors. Get your FREE customized rate comparison below:
