USDA loans offer low or no down payment options for eligible rural and suburban buyers, helping make homeownership more accessible.
USDA loans offer low or no down payment options for eligible rural and suburban buyers, helping make homeownership more accessible.
USDA loans offer eligible buyers the opportunity to purchase a home with little to no down payment. Available in select rural and suburban areas, these loans can be structured as fixed-rate or adjustable-rate mortgages and may allow more flexible credit guidelines than some conventional options.
The program is backed by the U.S. Department of Agriculture, but loans are issued by approved lenders. Because the loan is guaranteed by the USDA, lenders are able to offer competitive terms and, in many cases, zero down payment financing. USDA loans are intended for primary residences and have household income limits based on location.
Qualified buyers may be able to purchase with 0% down, choose from several term options, and avoid traditional monthly private mortgage insurance. Refinancing options may also be available for eligible homeowners.
If saving for a large down payment has been holding you back, a USDA loan could be worth exploring. Contact us to see if the property and your household qualify.