USDA Loan

About USDA Loan

The United States Department of Agriculture (USDA) Guaranteed Rural Housing (GRH) offers a 100% financing home loan program – meaning zero down payment required! There are certain specific requirements for this loan program, both for the borrower and for the location of the property. The borrower must meet certain income restrictions, and they must plan to occupy the property. The borrower’s income cannot be above 115% of the U.S. median income for the area, adjusted by family size. Best of all, you do not need to be a first-time homebuyer.

Benefits of a USDA Guaranteed Rural Housing loan program:

No first-time homebuyer requirements
Eligible in rural areas with a population of 20,000 or less*
102% loan-to-value financing (1% up-front Guarantee Fee included)
Annual fee of 0.35%* of the unpaid principle balance will be included in monthly payment
Fixed rate loan
No financial reserve requirements
Owner occupied residence only
Income limitations vary per applicable city or area (Cannot be above 115% of the U.S. median income for the area, adjusted by family size.)
Seller can contribute up to 6% of the sales price towards buyer’s closing costs
100% gift funds allowed from family member

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