USDA Guaranteed Rural Housing

The USDA Rural Development program serves the public through more than 800 field offices nationwide.  Sometimes good credit and steady income are not enough to qualify for a home loan at a commercial financial institution, such as a bank, savings and loan or mortgage company.  Many rural families and individuals may be eligible to become homeowners with the help of a USDA Guaranteed home loan.  When the federal government agrees to guarantee a loan, lending institutions are better able to help buyers while incurring less risk.  Through USDA’s Guaranteed Rural Housing Program, low and moderate income families can qualify for mortgages even without a down payment. 

• Terms available:  30 year fixed

• 100% financing (no down payment)

• Single family residence

• Primary residence only

• Grants and gifts allowed from acceptable sources

• Flexible or no credit scores

• 3 years post bankruptcy

• 4 years post foreclosure

• Common sense underwriting

• Seller concessions up to 6%

• Maximum loan amount $417,000

• No monthly mortgage insurance

• No acreage limitations

• Purchase or refinance