USDA Loans

Down Payment Assistance Program

Unlock homeownership in rural areas with flexible financing and no large down payment—whether you're buying or refinancing, it's easier than ever.

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Nationwide

USDA Advantages

Towards Closing Costs

Up to 6% of the purchase price can go toward closing costs, lowering out-of-pocket expenses.

Lower Insurance Costs

Enjoy lower monthly mortgage insurance costs compared to other loan options.

Competitive Interest Rates

Benefit from competitive interest rates and potentially better terms than traditional loans.

USDA Loan Requirements

Here's what you'll need to get started.

  1. Credit Score Minimum credit score of 640
  2. Debt-to-income ratio Standard limit: 41% (can be higher with compensating factors)
  3. Occupancy Required Must be primary residence
  4. Homebuyer Education Informative course required for First-Time Homebuyers
  5. Loan Term 30-year fixed-rate mortgage

Qualifications

The home loan that unlocks opportunities.

Qualifications

The home loan that unlocks opportunities.
  • Must be in a USDA-designated rural area
  • Must meet USDA safety and livability standards
  • Purchases or Refinances (No first-time homebuyer requirement)
  • Single Family Homes, Condominiums, Manufactured Homes, or Townhouses 

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Connect with a Loan Expert

Our Loan Experts are available to answer all your questions.

USDA Loan FAQs

A USDA loan is a government-backed mortgage designed to help low- to moderate-income borrowers buy homes in eligible rural and suburban areas with zero down payment. To qualify, borrowers must meet income limits based on their area, have a minimum credit score of 640 (for automated approval), and ensure the home is located in a USDA-eligible area.

No! One of the biggest advantages of a USDA loan is that it offers 100% financing, meaning no down payment is required. Borrowers are still responsible for closing costs, but some of these costs can be covered by seller concessions, lender credits, or rolled into the loan.

USDA loans can be used to buy:

  • Single-family homes (detached or townhomes) 
  • USDA-approved condos 
  • New manufactured homes (must be permanently affixed) 
  • New construction homes

The home must be a primary residence—investment properties, vacation homes, and fixer-uppers needing major repairs are not eligible.

Yes, USDA loans have household income limits that vary by location and family size. Generally, a borrower's income cannot exceed 115% of the area median income (AMI). All household income (even from non-borrowers) is factored into eligibility. You can check limits on the USDA Income Eligibility Map.

The minimum credit score for automatic approval is 640. Borrowers with lower scores may still qualify but may need manual underwriting, additional documentation, or compensating factors such as a low debt-to-income ratio or extra cash reserves.