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USDA Loans
Zero down payment loans for eligible rural and suburban areas.
0%
Min. Down Payment
640+
Min. Credit Score
41%
Max DTI
Overview
USDA loans are backed by the U.S. Department of Agriculture and designed to promote homeownership in rural and suburban areas. With no down payment required and reduced mortgage insurance costs, USDA loans are an excellent option for eligible homebuyers looking to purchase in qualifying areas.
Key Benefits
- No down payment required
- Lower mortgage insurance than FHA
- Competitive fixed interest rates
- Closing costs can be financed
- Available in many suburban areas
Requirements
- 1Property must be in a USDA-eligible area
- 2Household income within USDA limits for the area
- 3Must be a primary residence
- 4Minimum credit score of 640 (automated approval)
- 5U.S. citizenship or permanent residency
Frequently Asked Questions
What areas qualify for USDA loans?+
USDA loans are available in rural and many suburban areas. Approximately 97% of U.S. land mass is eligible. You can check property eligibility on the USDA website.
Are there income limits for USDA loans?+
Yes, household income cannot exceed 115% of the area median income. Limits vary by location and household size. Many moderate-income families qualify.
Is a USDA loan better than FHA?+
For eligible borrowers in qualifying areas, USDA loans typically offer lower mortgage insurance costs and no down payment, making them more affordable than FHA loans.
Interested in USDA Loans?
Get pre-qualified in minutes. No commitment, no impact on your credit score.